Developing Asia can sustain growth pace, risks easing: ADB
Published on Apr 1, 2014 11:57 AM
MANILA (Reuters) - Developing Asia is poised to sustain its current growth momentum and is well positioned to manage risks coming from a slightly slower Chinese economy and possible uneven demand from major industrialised nations, the Asian Development Bank (ADB) said.
Asian nations can undertake preemptive measures to protect the region's growing economy from unpredictable capital inflows, said the Manila-based lender as it unveiled its forecasts for the region for 2014 and 2015.
The bank said it expects the region, grouping 45 counties in Asia-Pacific, to grow 6.2 per cent this year, slightly faster than its most recent estimate of 6.0 per cent in December, before accelerating further to 6.4 per cent in 2015.
"Most regional economies have strengthened their economic fundamentals. Looking ahead, strengthening macroprudential measures before the boom can help avert sudden capital reversals that accompany the bust," the ADB said in its Asian Development Outlook 2014.
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