Published: Mon, April 10, 2017
Health Care | By Kelly Miles

ADB keeps 6.4% GDP growth forecast for PH

ADB keeps 6.4% GDP growth forecast for PH

India recorded a growth rate of 7.1 per cent in 2016-17, despite fears that demonetisation of high-value currency notes of Rs 500 and Rs 1,000 in November a year ago would choke economic growth.

ADB Senior Economist Arief Ramayandi said in yesterday's briefing that "m$3 ost of the risks are basically coming from policy directions from the advanced economies".

2017 report, ADB notes that the deceleration to 7.1 per cent registered a year ago was due in part to slower investment growth.

The Asian Development Bank has forecast a 2.2% economic growth for Armenia for 2017 and a 2.5% growth for 2018, according to its 2017 outlook.

"Rising consumer and business confidence and a declining unemployment rate have fuelled United States growth, but uncertainty over future economic policies may test confidence", the ADB said.

The bank also said that while the eurozone was also strengthening, any potential growth was clouded by the uncertainty of Britain's decision to leave the European Union.

"Because small enterprises generate a large share of India's exports, and are highly dependent on cash, demonetisation impeded exports of gems, jewellery, and garments for a few months before the situation normalised".

Emphasising that continued economic reform is essential to reach a high growth trajectory, the Asian Development Bank (ADB) has asked Pakistan to address key constraints on growth since regulation remains burdensome, requiring more reforms to provide an enabling environment that promotes business and encourages investment.

Inflation, meanwhile, is expected to accelerate to 5.2 per cent in FY 2017 and 5.4 per cent n FY 2018 as the global economy recovers and commodity prices rebound.

IS fighters in Mosul provoking coalition strikes on civilians: US military
State television said the air force bombed an Islamic State position in Baaj, some 130 km west of Mosul near the Syrian border. Other estimates, however, suggest that this number could be as high as 220 - many among them women and children.

Trump, Xi meet again - in shadow of missile strikes on Syria
Trump accepted Xi's invitation to China later this year, state news agency Xinhua news agency cited officials as saying on Friday. Trump has threatened to use trade to try to force China to exert influence over Pyongyang.

N. Korea fires ballistic missile ahead of Trump-Xi meeting
An Air Force general says she is extremely confident the United States could intercept a ballistic missile fired by North Korea. March 6, 2017: North Korea fires four ballistic missiles, three of them falling into Japan's exclusive economic zone.

Prime Minister Narendra Modi's decision to invalidate high-value banknotes is likely to have a positive impact over the medium term, the Asian Development Bank (ADB) said today.

Elsewhere, growth will be lifted by spending on natural disaster reconstruction in Nepal, hydropower investment and output in Bhutan, and economic corridor investment from the PRC in Pakistan.

The recovery in global oil prices sets the stage for a modest recovery in Central Asia, with growth of 3.1% seen for 2017 and 3.5% for 2018, after slowing to 2.1% in 2016.

Overall growth in Southeast Asia is expected to accelerate further with almost all economies in the region showing an upward trend, the report said.

Industrial economies are gathering momentum, with the U.S., the euro zone and Japan expected to grow collectively by 1.9 per cent in 2017 and 2018. The forecast is lower than the 6.8 percent actual growth in 2016 and is due in part to "high base effect" and the impact of higher commodity prices on domestic demand.

As about China, the overall output was pegged at 6.5% for 2017 and 6.2% in 2018; in 2016, it was 6.7%.

"The central bank will have to factor into this delicate balance the future course of USA interest rates".

During these years, Myanmar's import is expected to increase much and will suffer the inflation correspondingly, she said.

Like this: