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ADB lowers growth forecasts for Asian developing countries

The Asian Development Bank (ADB) has announced reduced growth outlook for Asian developing countries, with the aggregate gross domestic product expected to gain by 6.1 percent in 2014 and by 6.2 percent in 2015, compared to prior forecasts of 6.2 and 6.4, respectively.
The Asian Development Bank (ADB) has announced reduced growth outlookfor Asian developing countries, with the aggregate gross domesticproduct expected to gain by 6.1 percent in 2014 and by 6.2 percent in2015, compared to prior forecasts of 6.2 and 6.4, respectively.

As economies in Southeast Asia have lost their momentum, ADB loweredthe region’s growth projections to 4.4% in 2014 and 5.1% in 2015,instead of 4.6 percent and 5.3 percent previously.

Vietnam’sGDP growth forecasts were lowered to 5.5 percent and 5.7 percent in 2014and 2015, respectively, from 5.6 percent and 5.8 percent.

ADB also cut inflation forecasts of Asia to 3.2 percent in 2014 from 3.4 percent and to 3.5 percent in 2015 from 3.7 percent.-VNA
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Thailand's Finance Minister Ekniti Nitithanprapas (Photo: Royal Thai Government)

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