ADB projects economic growth of 5.3 percent in 2018

12 Abril, 2018, 01:52 | Author: Gregg Anderson
  • The ADB's growth projection of 7.3 per cent this fiscal is in line with that of rating agency Fitch but a tad lower than RBI's forecast of 7.4 per cent

Workers lay out steel bars in constructing the 8-kilometre 4-lane elevated highway along Buendia Avenue in Makati City, Manila, on Aug 3, 2017.

Myanmar's GDP growth rate jumped from 5.9 to 6.8 percent a year ago on the back of a strong agriculture sector, export growth and robust private consumption, the Asian Development Bank (ADB) said in its Asian Development Outlook 2018.

Strong external and domestic demand helped economies in the region expand by an average 6.1% past year.

"Economies across developing Asia will maintain the current growth momentum driven by sound policies, expanding exports, and robust domestic demand", ADB Chief Economist Yasuyuki Sawada said in a statement, adding that strong regional trade links and rising financial buffers put the region in a position to weather external shocks.

Since President Donald Trump at the start of March imposed tariffs on steel and aluminium imports as part of his protectionist "America First" agenda, China and the United States have swapped tit-for-tat tariff threats on goods worth hundreds of billions of dollars.

Aside from highlighting Vietnam's strong growth potential, the ADB underlined several major risks to its positive outlook, including the rise in global trade protectionism, as the country's annual trade now exceeds 185% of GDP. "Protectionist measures and retaliation against them could undermine the recent pick-up in trade growth".

More news: Amazon's Echo Dot Smart Speaker on Sale for 14% Off at $59.99
More news: In blow to peace, Colombia jails ex-rebel on U.S. drug warrant
More news: Se entregó a las autoridades la senadora electa Aida Merlano

Household consumption grew by 5.8 percent last year from 7.0 percent in the previous year on the back of higher remittances and employment, with the unemployment rate falling by 1.3 percentage points to 5.3 percent in January this year.

China has set a growth target of around 6.5% this year, the same as last year, which it handily beat with an expansion of 6.9%. "Diversifying exports away from readymade garments and promoting labour intensive manufacturing would help expand industry and underpin continued high economic growth", the ADB country director added.

For 2019, it predicts growth will ease to 5.9 percent.

"Services are projected to grow by two percent in both 2018 and 2019, reflecting modest gains in retail trade, transportation, and tourism thanks to a more competitive exchange rate and the construction of moderately priced hotels", says the ADB report.

Indias economic growth is expected to rebound to 7.3 per cent this fiscal and further to 7.6 per cent in 2019-20 with increased productivity post GST and investment revival due to banking reform, the Asian Development Bank (ADB) said on Wednesday.

Central Asia is projected to slow to 4% in 2018 before picking up to 4.2% next year.

Recomendado:



Popular

Se estrelló otra avioneta, hay 4 muertos — Nueva tragedia aérea
Y pasadas las 11 de la mañana, al no tener noticias de ellos, se activó el protocolo de auxilio y rescate. La avioneta se dirigía a Gobernador Garmendía, en la misma provincia, y no se reportaba en los radares.

EPN, ministros, gobernadores, legisladores, funcionarios, empresarios y periodistas festejan cumpleaños de CSG
El agasajado, fue sin duda, Ildefonso Guajardo , quien regresaba de Washington y comentaba novedades de la negociación del TLCAN. No acudió José Antonio Meade , el candidato del PRI a la Presidencia, pero sí su secretaria particular, Vanesa Rubio .

Patrick Reed's parents go through highs, lows of son's Masters win
Because all that leader did was save a dicey par on 13 to stay at 14-under and grab one final birdie on the 14th to seal the win. Masters on Sunday and now the American, instilled with a newfound belief that his day will come, can not wait for his next shot.

12 Things to Know About the $12.99 Deal — Spotify-Hulu Bundle
To make this deal even more appealing, they will only be charging $ 1 for the first three months of Hulu access, not too shabby. Spotify and Hulu are offering a combined subscription, the awkwardly-named but cash saving Spotify Premium, Now with Hulu .

Fortnite gets a pop-up fort with the new Port-a
This means (In US) that fortnite is out earning relative behemoths in the mobile gaming space, Candy Crush and Clash of Clans . The game usually goes down for maintenance on Thursdays so we probably have to wait until then before the update hits.

Chris Jericho And More Confirmed For Greatest Royal Rumble
As for Jericho, he made a surprise return at the Raw 25th Anniversary show in January, but hasn't been on television since. And WWE confirmed that the first ever Undisputed Champion will battle in the first ever 50-Man Royal Rumble match.

Equal Pay Day emphasizes inequity in gender pay
The gap does not consider that, on average, women work less hours than men and are less experienced than their male counterparts. Nationally, women in academics earned 88 cents of a male dollar, though those with master's degrees earned only 73 cents.

Lula registrará desde la cárcel su candidatura a la presidencia — Brasil
El partido reunirá hoy a su directiva nacional en Curitiba para evaluar la situación después de la prisión de su principal referente.

Roma send Barcelona crashing out of Champions League in 3-0 win
There's nothing else to say because we are out of the Champions League and that's not something we wanted to happen". De Rossi calmly stepped up to the spot and buried his kick to the right despite ter Stegen guessing correctly.

Buhari declares intention to re-contest for 2019 elections
The president announced this in Abuja on Monday. "We will give him the kind of support we gave him in 2015", he added. Justin Welby, "a good friend of the President on inter-religious harmony in Nigeria and World-wide".