* Developing East Asia Pacific 2016 growth seen at 6.4 pct
* Previous April forecast was for growth of 6.3 pct
* Brexit unlikely to have large impact on region in short
* World Bank raises 2016, 2017 growth forecasts for Thailand
* China's 2016-2017 growth forecasts kept unchanged
SINGAPORE, Oct 5 The World Bank slightly raised
its 2016 economic growth forecast for developing East Asia and
the Pacific on Wednesday, saying that Brexit is unlikely to
have any significant near-term impact on growth in the region.
The Washington-based lender now expects the developing East
Asia and Pacific (EAP) region, which includes China, to grow 6.4
percent in 2016 and 6.2 percent in 2017.
Its previous forecast in April was for 6.3 percent growth in
2016 and 6.2 percent in 2017.
"Growth in the region is expected to remain broadly
resilient during 2016-2018," the World Bank said in its latest
East Asia and Pacific Economic Update report.
The Bank kept its 2016 and 2017 growth forecasts for China
unchanged at 6.7 percent and 6.5 percent, respectively, but
trimmed its 2018 growth view for China by 0.2 percentage point
to 6.3 percent.
Growth projections for Thailand were raised to 3.1 percent
for both 2016 and 2017, up from 2.5 percent and 2.6 percent
"In Thailand, growth will recover gradually to 3.3 percent
in 2018, reflecting the effects of increased public investment,
improving consumer confidence, and continued expansion in
services including tourism," the World Bank said.
But it said its baseline view for the region faces
significant risks such as China's ongoing economic slowdown and
any sharp tightening in global financial conditions that could
reduce capital flows to the region.
Britain's looming separation from the European Union is
unlikely to have a large impact on developing East Asia and the
Pacific in the short-term, the Bank added, given the region's
limited direct trade and financial links with the United
The UK accounts for less than 2 percent of total exports
across most of developing East Asia and Pacific, and accounts
for a limited share of total foreign direct investment flows to
the region, the bank said.
"In the medium term, Brexit will imply a renegotiation of
developing EAP's trade and investment agreements with the United
Kingdom, and may also affect their trade relations with the
(Reporting by Masayuki Kitano; Editing by Kim Coghill)