The Strategist

World Bank worsens 2022 GDP growth forecast for China

04/05/2022 - 10:38

The World Bank predicts China's economy will grow by 5% in 2022 instead of the 5.4% expected in October, according to the bank's World Economic Outlook report.

Qilei Cai
Qilei Cai
"China, which accounts for 86 percent of regional output, is projected to grow by 5 percent in the baseline scenario and 4 percent in the pessimistic scenario," the WB wrote.

The Bank notes that the situation around Ukraine threatens the recovery of developing countries in East Asia and the Pacific after the shock caused by the coronavirus pandemic, as it leads to disruption of supplies, increased financial stress and a slowdown in global economic growth.

In addition, output in the rest of the region is projected to increase by 4.8% in the baseline scenario and 4.2% in the worst-case scenario. In the worst-case scenario, another 6 million people in the region would remain below the poverty line in 2022 at $5.5 per day.