ADB unveils economic development forecasts for region

ADB unveils economic development forecasts for region Growth in developing Asia would only ease slightly to 5.9 % next year
Finance
April 11, 2018 10:26
ADB unveils economic development forecasts for region

Baku. 11 April. REPORT.AZ/ The Asian Development Bank (ADB) has raised its 2018 economic growth estimate for the developing Asia to 6.0 per cent from 5.8 per cent, citing solid export demand, but said US protectionist measures and any retaliation against them could undermine trade. Report informs Asian Development Bank (ADB) said in its “2018 Asian Development Outlook” released on Wednesday.

Growth in developing Asia would only ease slightly to 5.9 per cent in 2019, the Bank said in its Asian Development Outlook 2018 released on Wednesday. Strong external and domestic demand helped economies in the region expand by an average 6.1 per cent last year.

By region, South Asia will remain the fastest growing in Asia-Pacific, with the ADB pegging expansion this year at 7.0 per cent and 7.2 per cent in 2019.

ADB also announced the inflation forecast for the region: "The end of raising oil price and the strong consumer demand continued to raise the inflation level in the region. It is projected that the consumer price index will be 2.9% this year and next year, which is 0.6% more than last year.”

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