Structural reforms to boost productivity, improve investment climate, and support domestic demand can help maintain Asia's growth momentum. (Source: adb.org)
Hanoi (VNA) – The Asian Development Bank (ADB) on December 13 maintainedits estimates for Southeast Asia’s economic growth in 2016 and the next year.
In a supplement to its Asian Development Outlook2016 Update report, the bank said growth forecasts remain unchanged at 4.5percent in 2016 and 4.6 percent in 2017, with Malaysia and the Philippinesexpecting stronger growth.
The bank also slightly lowered its 2016 growth forecast for developingAsia, including India.
The developing Asia, which groups 45countries and territories in the Asia-Pacific region, is expected to expand 5.6percent this year, slightly weaker than a previous forecast of 5.7 percent, theADB said in its report.
The bank trimmed its growth estimate for India this year to 7.0 percent from7.4 percent due to weak investment, agricultural slowdown and the government's recentdemonetisation, but India is expected to end 2017 at faster growth rate of 7.8percent.
The ADB said China is seen expanding 6.6 percent this year and 6.4 percent nextyear.
Meanwhile, the bank downgraded the forecast inSouth Asia from 6.9 percent to 6.6 percent in 2016. Growth will bounce back in2017, reaching 7.3 percent.-VNA
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Structural reforms to boost productivity, improve investment climate, and support domestic demand can help maintain Asia's growth momentum. (Source: adb.org) 
