Developing Asia on track to meet growth expectations: ADB | The Daily Star
12:00 AM, July 20, 2018 / LAST MODIFIED: 12:00 AM, July 20, 2018

Developing Asia on track to meet growth expectations: ADB

The Asian Development Bank said developing Asia is on track to meet growth expectations for this year and 2019, but warned that rising US protectionist trade measures and countermeasures from China and others pose “a clear downside risk”. The Manila-based institution, which released an update of its Asian Development Outlook on Thursday, kept its 2018 and 2019 economic growth estimates for the region at 6.0 percent and 5.9 percent, respectively.

The ADB made only a few small changes in the forecasts made in April. It now sees Indonesia growing 5.2 percent this year, instead of 5.3 percent, and has raised its forecast for Thailand to 4.2 percent from 4.0 percent. The lender said that it factored tariffs imposed by July 15 into the latest forecasts, though it added “the risk of further ratcheting up of protectionist measures could undermine consumer and business confidence and thus developing Asia's growth prospects.”

Stay updated on the go with The Daily Star Android & iOS News App. Click here to download it for your device.

Grameenphone:
Type START <space> BR and send SMS it to 22222

Robi:
Type START <space> BR and send SMS it to 2222


Banglalink:
Type START <space> BR and send SMS it to 2225

Leave your comments

Top News

Top News

Top