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The Latin America and the Caribbean document is also available in Spanish (149 KB) East Asia and Pacific
GDP estimated to have increased by almost 8 percent in 2004 (for a second year), the strongest performance since the 1997-98 financial crisis…Regional output expected to slow through 2006, when it is projected to grow by 6.6 percent…Region projected to continue generating strong growth over the long term… Europe and Central Asia Real GDP estimated to have increased by 7 percent in 2004, a sharp acceleration from the 5.9 percent outturn in 2003…Regional growth expected to moderate over the near-term, with output rising by 5.6 and 5 percent in 2005 and 2006, respectively…Progress in fiscal consolidation, diversification of production, and advancing reforms will influence regional growth outturns…Regional growth in the next ten years forecast to average 3.5 percent… Latin America and the Caribbean GDP estimated to have increased by 4.7 percent in 2004, ending three-year stagnation period…Regional growth expected to moderate, with GDP growth slowing to a still robust 3.7 percent by 2006…Most significant downside risk is still the region’s vulnerability to higher interest rates and financial turmoil…Long-term prospects improving with growth during 2006-15 projected to average 3.6 percent and average per capita income expected to rise by 2.4 percent…  Middle East and North Africa GDP increased by 4.7 percent in 2004, easing from a near-record 5.7 percent advance during 2003…Iraq conflict has influenced economic activity across the region…Regional growth expected to remain strong in 2005 before easing to 4.5 percent in 2006, with shifts likely in sources of growth…Long-term return to lower oil prices, while the need for enhanced reforms across the region will offer substantial challenges… South Asia GDP estimated to have slowed considerably in 2004, increasing by 6 percent, down from 7.5 percent in 2003…Excluding India, regional growth projected to rise to 6 percent in 2004 from 5.6 percent in 2003…Regional GDP expected to accelerate, expanding by 6.3 percent in 2005, before moderating somewhat in 2006…Long-term regional growth forecast to average about 5.5 percent during 2006-15 as contribution from private sector continues to rise…Policymakers in the region face challenges to realize high rates of growth… Sub-Saharan Africa GDP grew by an estimated 3.2 percent in 2004, much faster than in the 1990s, but slower than almost everywhere else in the world…GDP growth projected to accelerate in 2005 and 2006, rising to 3.7 percent by 2006…Pace and fragility of growth in the region remains serious challenge…In the long term, per capita GDP projected to grow by 1.6 percent per annum, in contrast to the falling incomes of the 1980s and 1990s… |
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