World Bank says war shocks to drag on Asian economies

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — A report by the World Bank says disruptions to supplies of commodities, financial strains and higher prices are among the shocks from the war in Ukraine that will slow economies in Asia in coming months. The report released Tuesday forecasts slower growth and rising poverty in the Asia-Pacific region this year. Growth for the region is estimated at 5%, down from the original forecast of 5.4%. It anticipates that China, the region’s largest economy, will expand at a 5% pace. The report says “multiple shocks” are adding to troubles for people and for businesses and that governments whose finances have been stretched by the pandemic have less capacity to help.