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ADB forecasts Asian growth at 7.5% in 2010

2010-04-13 14:16 BJT

The Asian Development Bank has said Asian and Pacific economies are showing strong sings of a recovery from last year's slowdown. The ADB also called for coordination, on the ending of loose monetary policies, and the freeing up of exchange rates.

Developing Asia, is a diverse group of 45 economies that include China, Azerbaijan, India, Singapore and Papua New Guinea. It is forecasted to grow 7.5 percent this year and 7.3 percent in 2011, picking up from its 5.2 percent rise in 2009. In the bank's 2010 outlook, the region's two biggest economies are standing out.

China is expected to grow 9.6 percent in 2010 and 9.1 percent in 2011, despite stimulus measures being phased out. India will lead South Asian economies, with 8.2 percent growth this year and 8.7 percent in 2011. The ADB also said despite the region's robust performance during the global crisis, there was plenty of room to strengthen regional policy frameworks to prevent asset price bubbles or other imbalances.

Editor: Du Xiaodan | Source: