The Asian Development Bank (ADB) on September 25 maintained its stable growth outlook for developing Asia in 2014 and 2015, saying the region remains the fastest-growing economy globally despite slower-than-expected growth in major industrial countries.

In an update of its annual economic publication, the ADB kept its forecasts for the region’s GDP growth at 6.2 percent in 2014 and 6.4 percent in 2015.

The region, which comprises the 45 ADB developing member countries, grew 6.1 percent in 2013.

“Developing Asia is maintaining its growth momentum, even as the pace of recovery among the major industrial economies falls short of expectations,” ADB President Takehiko Nakao, in a foreword to the report, said.

He added developing Asia remains on track to meet the bank’s April growth forecasts from 6.1 percent in 2014 and 6.4 percent in 2015.

The report says Southeast Asia will see stronger growth in 2015 and a projected growth of 4.6 percent for 2014, down from the 5.0 percent forecast and the 5.0 percent growth in 2013.-VNA