Monday, 2 July 2007

ADB sees '07 Asia excluding Japan growth above 8%

Original report at ABS-CBN News

Asia, excluding Japan, should grow above 8 percent in 2007, said Asian Development Bank Chief Economist Ifzal Ali on Monday, higher than a previous forecast of 7.6 percent.

"It's even better than we thought earlier," he told Reuters on the sidelines of an ADB forum in Manila.

He said growth in developing Asia this year would exceed previous projections because of a strong performance from China and India. Ali said he expected China to grow "a shade less than 10 percent".

For India, he expects it to grow close to 8 percent or possibly above that.

The ADB defines developing Asia as comprising the seven Central Asian republics, nine nations in Southeast Asia, eight nations in South Asia, as well as China, Hong Kong, Mongolia, Taiwan, South Korea, and Pacific island nations. - Reuters

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