Tue, 15 Dec 2009
DPA
Manila - The Asian Development Bank (ADB) said Tuesday it has upgraded its economic growth forecast for developing countries in Asia due to the better-than-expected performance of many economies in the region. The Manila-based ADB said it now expects developing Asia, which covers 45 countries in Central Asia, East Asia, South Asia, South-East Asia and the Pacific, to grow by 4.5 per cent in 2009 and 6.6 per cent in 2010.
In September, the ADB predicted the region's economy would grow 3.9 per cent in 2009 and 6.4 per cent in 2010.
"The prospects for much of the region look rosier than they did in September when we last did a full study of the region," ADB chief economist Jong-Wha Lee said.
"Fiscal and monetary stimulus policies and a moderate improvement in the G3 economies of Europe, Japan and the United States helped East Asia and South-East Asia in particular," he added.
ADB said East Asia - comprised of China, Hong Kong, South Korea, Mongolia and Taiwan - was expected to expand by 5.1 per cent this year and 7.3 per cent in 2010.
South-East Asia - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - was predicted to grow 0.6 per cent in 2009 and 4.5 per cent in 2010, the bank said.
ADB said Central Asia was projected to grow more slowly in 2009 than previously expected largely due to persistent economic weakness in Armenia, but the region should still expand by 3.6 per cent in 2010.
The bank also increased its economic growth forecast for South Asia to 6.4 per cent in 2009 and 2010, with India projected to grow 7.0 per cent this year and next year.
"India faces some challenges - particularly from rising prices that the government and the central bank will have to consider carefully as they assess the policy," Lee said.
The ADB said its growth forecast for the Pacific was unchanged at 2.8 per cent in 2009 and 3.1 per cent in 2010.
In September, the ADB predicted the region's economy would grow 3.9 per cent in 2009 and 6.4 per cent in 2010.
"The prospects for much of the region look rosier than they did in September when we last did a full study of the region," ADB chief economist Jong-Wha Lee said.
"Fiscal and monetary stimulus policies and a moderate improvement in the G3 economies of Europe, Japan and the United States helped East Asia and South-East Asia in particular," he added.
ADB said East Asia - comprised of China, Hong Kong, South Korea, Mongolia and Taiwan - was expected to expand by 5.1 per cent this year and 7.3 per cent in 2010.
South-East Asia - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - was predicted to grow 0.6 per cent in 2009 and 4.5 per cent in 2010, the bank said.
ADB said Central Asia was projected to grow more slowly in 2009 than previously expected largely due to persistent economic weakness in Armenia, but the region should still expand by 3.6 per cent in 2010.
The bank also increased its economic growth forecast for South Asia to 6.4 per cent in 2009 and 2010, with India projected to grow 7.0 per cent this year and next year.
"India faces some challenges - particularly from rising prices that the government and the central bank will have to consider carefully as they assess the policy," Lee said.
The ADB said its growth forecast for the Pacific was unchanged at 2.8 per cent in 2009 and 3.1 per cent in 2010.
8 comments:
Asian Development Bank (ADB) predicted that 0.6% economic growth in Cambodia in 2009 is a welcome news for Cambodia but it's a bad news for Sam Rainsy Party. SRP always wants to see economic in Cambodia getting worst and society in chaos which is easy for SRP to insult to Cambodian government and promote its stunt. Anything good news for Cambodia is the bad news for SRP and its stupid supporters.
Khmer in Sydney
"0.6% growth in South-East Asia" the rate is an average rate for the 10 countries not for only in Cambodia.
DPA, where in the text does it tell that "ADB forecasts 0.6% economic growth in Cambodia"?
The report said 0.6% growth is the average for all SEA countries which includes Cambodia. Cambodian economy is reported by ADB to be contracted by 1.5% in 2009. V
happy now... we must continue to work hard to safeguard our country not just for today but years to come... to ensure our children will continue to enjoy the fruits from their forefather.
#1 poster
I dear our government do that... as long as Hun Sen government can do that and work to protect the national interest even it mean to put a fight with Vietnam i will vote for him. All I care is the interest for the nation. You can be partisan, but what if your party put your nation on sale, will you continue to vote for that party?
Khmer in Sydney, I totally agree with you that Sam Rainsy can't stand to see Cambodia grows. It burns him when that happens. I can't believe that he's khmer but wanted cambodia to suffer so that he can step in for his political gain.
#3poster
Actually, the blue title does not come from DPA but KI-Media creates its own title. KI's team is only expertise in politics not economics, so they might confuse!
Economic student
Post a Comment