adb lowers 2016 growth forecast for developing asia
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

ADB lowers 2016 growth forecast for developing Asia

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice ADB lowers 2016 growth forecast for developing Asia

Developing Asia, which groups 45 countries in the Asia-Pacific region
Jeddah - Arab Today

The Asian Development Bank slightly lowered its 2016 growth forecast for developing Asia on Tuesday, reflecting slower-than-expected expansion in India.
“Asian economies continue their robust expansion in the face of global economic uncertainties,” said ADB Deputy Chief Economist Juzhong Zhuang.
“Structural reforms to boost productivity, improve investment climate, and support domestic demand can help maintain growth momentum,” said Zhuang.
Combined growth for the major industrial economies exceeded expectations in the Update, ticking up 0.1 percentage point to 1.5 percent in 2016. Growth in 2017 is maintained at 1.8 percent. Robust consumer spending supported the US economy, with supportive monetary policy and improved labor markets fueling growth in the euro area. Japan’s expansion, meanwhile, will be buoyed by strong exports, despite the stronger local currency.
Developing Asia, which groups 45 countries in the Asia-Pacific region, is now expected to expand 5.6 percent this year, rather than 5.7 percent, the ADB said in a supplement to its Asian Development Outlook 2016.
The ADB trimmed its 2016 growth estimate for India to 7.0 percent from 7.4 percent due to weak investment, agricultural slowdown and the government’s recent demonetization.
But India’s growth forecast for 2017 was kept at 7.8 percent. Growth in China — the world’s second largest economy — is expected to hit 6.6 percent this year, driven by strong domestic consumption, solid wage growth, urban job creation and public infrastructure investment. The forecast for China in 2017 is maintained at 6.4 percent.
The growth estimate for Southeast Asia was kept at 4.5 percent for this year and 4.6 percent in 2017, supported by strong growth in Malaysia and the Philippines.
Economies in South Asia are projected to expand by 6.6 percent in 2016, down from the previous estimate of 6.9 percent. For next year, growth in that region will bounce back to 7.3 percent, the ADB said.
The Pacific will see growth of 2.7 percent in 2016, picking up to 3.3 percent in 2017. The fiscal contraction in Papua New Guinea — the Pacific’s largest economy — and recovery from recent cyclones have weighed on growth in the sub-region. While cyclone damage in Fiji has had a bigger impact on its growth outlook than previously envisaged, prospects for Samoa, Kiribati, and Tuvalu are improving through improvements in fisheries, infrastructure, and tourism.

Source: Arab News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adb lowers 2016 growth forecast for developing asia adb lowers 2016 growth forecast for developing asia

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adb lowers 2016 growth forecast for developing asia adb lowers 2016 growth forecast for developing asia

 



GMT 10:08 2018 Wednesday ,24 January

Microsoft to open 4 data centres

GMT 05:04 2024 Tuesday ,06 February

Skincare PR Performance Full Year 2017

GMT 06:15 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 19:57 2018 Tuesday ,23 January

Farm-fresh from Kerala to the UAE, in just one day

GMT 10:18 2018 Thursday ,30 August

Iran incapable of closing Hormuz, Bab Al Mandeb

GMT 05:22 2014 Thursday ,27 November

Sesame paneer wraps

GMT 17:06 2012 Monday ,30 January

Simon\'s cooking idol

GMT 09:13 2013 Friday ,22 February

Do the hippy shake

GMT 15:12 2012 Thursday ,20 September

The modern girl

GMT 21:43 2011 Friday ,30 September

Free Ride

GMT 12:10 2014 Tuesday ,28 October

Bin Rashid's vision shaped development of industry

GMT 07:57 2011 Friday ,14 October

The Bloody Meadow

GMT 09:43 2012 Saturday ,25 February

A walk in the desert

GMT 10:07 2014 Saturday ,15 November

Assad’s old tricks

GMT 20:07 2014 Tuesday ,01 July

May 21 - June 20

GMT 09:18 2013 Thursday ,14 February

All the small things
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice