![]() Disruptions from natural disasters are a constant source of severe downside risk for many countries, especially island economies. ![]() Downside risks to the forecast include, the possibility of repeated and large COVID-19 outbreaks amid delayed vaccinations heightened financial stress amplified by elevated debt levels and the possibility of more severe and longer-lasting effects from the pandemic, including subdued investment and eroded human capital. The pandemic is expected to dampen potential growth in many economies, especially those that suffered most from extended outbreaks of COVID-19 and the collapse of global tourism and trade. Nevertheless, output in two-thirds of the countries in the region will remain below pre-pandemic levels until 2022. ![]() Growth in East Asia and Pacific (EAP) is projected to accelerate to 7.7 percent in 2021, largely reflecting a strong rebound in China.
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