ADB Raises 2017 Growth Forecast for Developing Asia to 5.9%

ADB Raises 2017 Growth Forecast for Developing Asia to 5.9%

The Asian Development Bank raises Developing Asia’s 2017 growth forecast to 5.9% from 5.7% in its latest Outlook supplement. Inflation forecast cut to 2.6% from 3%.

  • China 2017 GDP forecast raised to 6.7% from 6.5%; 2018 at 6.4%
    • Inflation cut to 2% from 2.4%; 2018 at 2.6%
  • India 2017 GDP forecast maintained at 7.4%; 2018 at 7.6%
    • Inflation cut to 4% from 5.2%; 2018 at 4.6%
2017 2017 2018 2018 2016
REVISED PREVIOUS REVISED PREVIOUS ACTUAL
————– Annual GDP Growth ————–
Developing Asia 5.9% 5.7% 5.8% 5.7% 5.8%
 Central Asia 3.2% 3.1% 3.8% 3.5% 2.1%
  Kazakhstan 2.6% 2.4% 2.9% 2.2% 1.0%
 East Asia 6.0% 5.8% 5.7% 5.6% 6.0%
  China 6.7% 6.5% 6.4% 6.2% 6.7%
  Hong Kong, China 2.0% 2.0% 2.1% 2.1% 1.9%
  Korea, Rep. of 2.7% 2.5% 2.7% 2.7% 2.8%
  Taipei, China 2.0% 1.8% 2.2% 2.2% 1.5%
 South Asia 7.0% 7.0% 7.2% 7.2% 6.7%
  India 7.4% 7.4% 7.6% 7.6% 7.1%
 Southeast Asia 4.8% 4.8% 5.0% 5.0% 4.7%
  Indonesia 5.1% 5.1% 5.3% 5.3% 5.0%
  Malaysia 4.7% 4.4% 4.6% 4.6% 4.2%
  Philippines 6.5% 6.4% 6.7% 6.6% 6.9%
  Singapore 2.4% 2.2% 2.5% 2.3% 2.0%
  Thailand 3.5% 3.5% 3.6% 3.6% 3.2%
  Vietnam 6.5% 6.5% 6.7% 6.7% 6.2%
 The Pacific 2.9% 2.9% 3.3% 3.3% 2.6%
———– Annual Inflation Growth ———–
Developing Asia 2.6% 3.0% 3.0% 3.2% 2.5%
 Central Asia 8.1% 7.8% 7.4% 7.3% 11.0%
  Kazakhstan 8.0% 8.0% 7.0% 7.0% 14.6%
 East Asia 1.9% 2.3% 2.4% 2.6% 1.9%
  China 2.0% 2.4% 2.6% 2.8% 2.0%
  Hong Kong, China 2.0% 2.0% 2.1% 2.1% 2.4%
  Korea, Rep. of 1.8% 1.7% 1.8% 1.8% 1.0%
  Taipei, China 1.1% 1.3% 1.2% 1.2% 1.4%
 South Asia 4.2% 5.2% 4.7% 5.4% 4.5%
  India 4.0% 5.2% 4.6% 5.4% 4.5%
 Southeast Asia 3.3% 3.3% 3.4% 3.5% 2.1%
  Indonesia 4.3% 4.3% 4.5% 4.5% 3.5%
  Malaysia 4.0% 3.3% 2.7% 2.7% 2.1%
  Philippines 3.5% 3.5% 3.7% 3.7% 1.8%
  Singapore 1.1% 1.0% 1.5% 1.5% -0.5%
  Thailand 1.2% 1.8% 1.6% 2.0% 0.2%
  Vietnam 4.0% 4.0% 5.0% 5.0% 2.7%
 The Pacific 5.4% 5.2% 5.4% 5.4% 4.6%

Note 1: Developing Asia refers to 45 members of the Asian Development Bank.

Note 2: Central Asia comprises Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan.

Note 3: East Asia comprises the People’s Republic of China; Hong Kong, China; the Republic of Korea; Mongolia; and Taipei, China.

Note 4: South Asia comprises Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka.

Note 5: Southeast Asia comprises Brunei Darussalam, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Viet Nam.

Note 6: The Pacific comprises the Cook Islands, Fiji, Kiribati, the Marshall Islands, the Federated States of Micronesia, Nauru, Papua New Guinea, Palau, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, and Vanuatu.

Source: Asian Development Outlook 2017 supplement

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