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World Bank lowers East Asia growth forecast to 7.1%

The World Bank on Monday lowered its 2013 growth forecast for East Asian developing countries to 7.1 percent and called for structural reforms to protect long-term expansion against financial volatility. The estimate for this year's gross domestic product (GDP) growth is down from an earlier forecast of 7.8 percent made in April, and lower than the 7.5 percent growth recorded in 2012 and 8.3 percent in 2011.
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