Четверг, 14 Декабря, 2017

ADB cuts India growth forecast to 7%

ADB revises its Asian economic growth estimate ADB Sees Robust Growth In Developing Asia
Ben Pena | 26 Сентября, 2017, 16:30

This is lower than the bank's previous forecast of 4.3 percent this year and 4.5 percent next year as government's efforts to restrain food prices by improving logistics and regional food distribution centers has had positive results.

Meanwhile, Southeast Asia was expected to grow stronger as output accelerates steadily to 5.1% in 2018 from 5% in 2017. Growth in 2018 is seen at 5.8 percent.

The September edition of Asian Development Outlook 2017 also puts the spotlight on the role of public-private partnerships (PPPs) in helping countries in the Asia and Pacific - including Indonesia - to meet their infrastructure needs of $1.7 trillion per year.

"India's ambitious reforms agenda will lead to higher long-run growth for its economy", said Yasuyuki Sawada, ADB Chief Economist. The dollar value of the region's exports surged by 11 per cent in the first five months of this year over the same period last year, she said.

Читайте также: Commuter CHAOS in London after 'explosion' on Tube

The global trade recovery is helping boost exports in Hong Kong and Malaysia while demonetization and the implementation of the new goods and services tax regime in India have dented consumer spending and business investment. The agency also lowered its inflation projection for the year to 4 per cent, from 5.2 per cent earlier, and expected a mild pick up in the pace of price rise in 2018 with inflation estimated at 4.6 per cent.

Meanwhile, the two nations received the largest upgrades for this year among major economies in the Asian Development Bank's latest outlook. The growth will be buoyed by a pick-up in world trade and Chinese expansion, it said, but flagged risks from tightening USA monetary policy.

Higher bond yields could push up long-term financing costs at the same time that a strengthening USA dollar would prompt more capital outflows from the region.

Currently, most of the banks were struggling to fix their asset quality from non-performing loans (NPL) and were not ready for a further rate cut, ADB Indonesia country economist Emma Allen said in Jakarta on Tuesday.

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