ADB raises Asia growth forecast

Growth prospects for developing Asia are looking up, bolstered by a revival in world trade and strong momentum in China, the Asian Development Bank (ADB) said in its Asian Development Outlook (ADO) 2017 Update released on September 26.
ADB raises Asia growth forecast ảnh 1ADB raises Asia growth forecast (Source: Cnbc.com)

Hanoi (VNA) – Growth prospects for developing Asia are looking up,bolstered by a revival in world trade and strong momentum in China, the AsianDevelopment Bank (ADB) said in its Asian Development Outlook (ADO) 2017 Updatereleased on September 26.

The region isforecast to expand by 5.9 percent in 2017 and 5.8 percent in 2018, a slightupgrade from the ADO announced in April.

SoutheastAsia is expected to grow by 5.0 percent in 2017, 0.2 percentage points higherthan ADO 2017 forecasts and by 5.1 percent in 2018.

The ADOUpdate indicated that over 400 million Asians live without electricity, 300million without safe drinking water, and a staggering 1.5 billion without basicsanitation.

The regionwill need to invest an estimated 1.7 trillion USD annually through 2030 tomaintain its growth momentum, reduce poverty, and respond to climate change.

DevelopingAsia also must mobilize 500 billion USD annually to meet its infrastructureneeds.-VNA
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