The Asian Development Bank downgraded economic growth forecasts for India and Southeast Asia for 2019 as global risks from trade tensions to Brexit mount.
According to the ADB’s latest Asian Development Outlook report, gross domestic product in India will probably increase by 7.2 % in 2019, down from a December forecast of 7.6%. Southeast Asia’s growth estimate was lowered by 0.2 percentage point to 4.9%.
Static/Current Takeaways Important for LIC AAO Exam:
- Asian Development Bank Headquarters: Manila, Philippines, President: Takehiko Nakao.