Developing Asia’s economy growth to slow down in 2019 - ADB

Developing Asia, which groups 45 economies in the Asia-Pacific region, is expected to slow down its economy’s growth in 2019 reaching 5.7% on an annual basis, against 5.9% projected expansion in 2018, Shanghai Daily reported referring to a forecast released by the Asian Development Bank (ADB).

The slowdown will be for a second year in a row and the region is expected to lose further momentum in 2020 when its growth is expected to be 5.6% year-on-year. The disappointing forecast was explained with the economic risks from the trade conflict between the USA and China and a potentially disorderly Brexit.

In regional terms, South Asia will remain the fastest growing in the Asia-Pacific region with economic growth of 6.8% in 2019. Also, India's economy is projected to expand at a pace of 7.2% this year while the growth forecast for Southeast Asia was trimmed to 4.9%, Shanghai Daily noted.

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