Delta Variant Casts Shadow Over East Asia and Pacific Economies in Long Term: World Bank

The World Bank said on Monday that the COVID-19 Delta variant is holding back the recovery in East Asia and Pacific (EAP) countries, which would give rise to economic recession and inequality in the long term. Testing, tracking, and isolation among the public have been less effective against the more infectious Delta variant, partly driving up lockdowns and restrictions to curb the growing outbreak, the World Bank said in its East Asia and Pacific Fall 2021 Economic Update published on Sept. 27. “The disease is damaging the economy and is unlikely to disappear in the foreseeable future,” the report reads. Findings show that the overall economic growth of the EAP region is projected at 7.5 percent. Cambodia, Malaysia, and Mongolia are expected to reach pre-pandemic levels in output by 2022; yet the Philippines, Thailand, and many Pacific Islands would remain at lower levels in 2023, according to the document. The growth momentum …

Leave a Reply

Your email address will not be published.

Next Post

Canada’s Tax System: A Monstrous Labyrinth That Needs to Be Simplified

Tue Sep 28 , 2021
Commentary Do you have a grumpy accountant? If not, perhaps you don’t live in Canada. But if you do, you probably need one. You shouldn’t. I don’t just mean an accountant. But it’s incredibly hard to do your taxes without one. I mean a grumpy one. Because it’s incredibly hard […]
Canada’s Tax System: A Monstrous Labyrinth That Needs to Be Simplified

Chief Editor

Johny Watshon

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur

Quick Links

Newsletter Signup

Sign up now and never miss a thing!

You're Signed Up!

Now that you are signed up, we will send you exclusive offers periodically.