World|economy|May 2, 2019 / 12:17 PM
Asia’s developing economies set to grow ‘very steadily’ - ADB

AKIPRESS.COM - Despite rising headwinds and concerns about a slowdown in the global economy, Asia’s developing economies are still set to grow “in a very steady way,” the president of the Asian Development Bank said Thursday.

Speaking to CNBC  at the ADB’s annual meeting in Fiji, Takehiko Nakao said discussions about a global economic slowdown “may be true especially for advanced economies — but, as far as Asia is concerned, it is still growing very steadily.”

According to the bank’s Asian Development Outlook 2019 report released in April, developing Asia — which comprises 45 nations ranging from China to Tuvalu — is projected to grow by 5.7 percent this year.

Nakao added that most of the momentum for the region’s growth comes from higher consumption and investment levels.

All rights reserved

© AKIpress News Agency - 2001-2019.

Republication of any material is prohibited without a written agreement with AKIpress News Agency.

Any citation must be accompanied by a hyperlink to akipress.com.

Our address:

189 Moskovskaya st., Bishkek, the Kyrgyz Republic

e-mail: english@akipress.org, akipressenglish@gmail.com;

Tel/Fax: +996(312)65-03-06

Follow us: