| Summary: | The World Bank East Asia and Pacific Economic Update is a comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific region of the World Bank. In this edition, the report notes that the region is expected to contribute almost 40 percent of global growth in 2012, and a similar share in 2013.China’s economic slowdown affected the region’s economic performance. China’s growth is projected to reach 7.9 percent this year, 1.4 percentage points lower than last year’s 9.3 percent and the lowest growth rate since 1999. For 2014, we expect most countries in the region to benefit from a mild recovery in advanced countries as well as continued strong domestic demand. For economies in the region that face difficulties in budget execution, particularly of the capital budget, fiscal interventions could focus on increasing private domestic demand, such as targeted social assistance or investment tax credits
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