A new Asian Development Bank report says that growth in Asia and the Pacific’s developing economies for 2016 and 2017 will remain solid.
This will be, as firm performances from South Asia, East Asia and Southeast Asia will help offset softness from the US economy, and near-term market shocks from the Brexit vote,.
In a supplement to its Asian Development Outlook 2016, released last March, ADB now forecasts 2016 growth for the developing economies at 5.6 percent.
This is below its previous projection of 5.7 percent. For 2017, growth is seen unchanged at 5.7 percent.