The Asian Development Bank (ADB) slashed its economic growth forecast for developing Asia this year, citing global headwinds and a weaker outlook for China. Developing Asia will expand 5.7% this year and in 2017, the Manila-based lender said in its latest Asian Development Outlook released. In its December outlook report, the ADB had forecast 2016 growth for the region at 6.0%.
ADB forecast growth in China, the world’s second-largest economy, would slow to 6.5% this year from 6.9% in 2015, its weakest expansion in a quarter of a century. Growth is projected to slow further to 6.3% in 2017
Extra info:
- In the United States, expanding private consumption and investment will be tempered by weak external demand, the ADB said. US Federal Reserve policymakers have cited continuing risks from a shaky global economy in halving the number of potential interest rate hikes this year to two.
- Growth in India will slip to 7.4% this year from 7.6% in 2015, but should recover to 7.8% in 2017.
- Asian Development Bank president – Takehiko Nakao.
- Asian development bank headquarters – Mandaluyong, Philippines
So lets do:
- Who is the President of Asian Development Bank?
- Where is the headquater of ADB?
- Asian Development Bank cuts Asia’s growth forecast to ____ for 2016.
Source – The Economic Times
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