Gold Silver Reports — ADB Raises Developing Asias Growth Outlook — The Asian Development Bank (ADB) raised its developing Asias growth outlook citing stronger-than-expected export demand. In its Asian Development Outlook, released Thursday, the bank upgraded developing Asias growth outlook for 2017 to 5.9% from 5.7%.
New Delhi: The Asian Development Bank (ADB) on Tuesday reduced India’s-growth forecast for 2014-15 to 5.5% from its December estimate of 5.7% on the back of a sharper-than-expected industrial slowdown.
In its Asian Development Outlook, the Manila-based multilateral lending agency said the Indian-economy has bottomed out in the last fiscal year, but the economy will not reach its potential until remaining structural bottlenecks are overcome.
“Weaknesses remain, however, and include persistent inflation, fiscal imbalances, bottlenecks to investment, and inefficiencies that require structural reforms,” the bank said. “Without a systemic resolution to these, growth is forecast to pick up modestly.”