ADB keeps China growth forecast unchanged at 6.7 pct


The Asian Development Bank (ADB) estimated that Indonesia may see a 5.1 percent economic growth this year with a positive economic outlook in the future thanks to current massive infrastructure development.

ADB likewise retained its growth projection of 5.9 percent for developing Asia in 2017 and 5.8 percent in 2018 on the back of broad-based recovery in global trade, robust expansion in major industrial economies, and improved prospects for China. The dollar value of the region's exports surged by 11 per cent in the first five months of this year over the same period last year, she said. However, the Reserve Bank of India's dividends to the government fell by half of that the previous financial year, backed by the "cost of printing new banknotes and absorbing excess liquidity resulting from the currency exchange process".

The September edition of Asian Development Outlook 2017 also puts the spotlight on the role of public-private partnerships (PPPs) in helping countries in the Asia and Pacific - including Indonesia - to meet their infrastructure needs of $1.7 trillion per year. The ADB had initially forecast 5.7% growth for both 2017 and 2018. "What we see is that numerous midsized banks are focusing on increasing asset quality rather than chasing credit growth", she said during a press briefing in Jakarta on Tuesday. Public and private investment, and household consumption supported by remittances from overseas Filipinos, were the key drivers of growth.

This Update revises downward the forecast for average inflation in the region, from 3.0 per cent to 2.4 per cent in 2017 and from 3.2 per cent to 2.9 per cent in 2018.

Jared Kushner Used Private Email Account To Conduct Government Business
Other advisers who had sent or received at least a few emails on personal accounts included Gary D Cohn and Stephen Miller . Federal rules require that officials' correspondence be retained as part of the government record.

ADB chief economist Yasuyuki Sawada said in a statement that the growth prospects of developing Asian countries are looking up on the back of "a revival in world trade and strong momentum in the People's Republic of China".

She added it was impossible for loan growth to reach double digits at the end of this year, but it might be close to 10 percent. It expects growth next year to pick up to 7.4 percent, lower than the previously estimated 7.6 percent, reported Moneycontrol.

Net exports, which have contributed to China's growth so far, would not continue to contribute in 2018, when imports are again expected to exceed exports. ADB had recorded economic growth, lower than 7.1% in 2016-17 and previously forecast a 7.4% growth rate in July.

Related News:

  • Largest ever rough cut diamond sold at public auction nets 53 million

    Largest ever rough cut diamond sold at public auction nets 53 million

    The only larger diamond previously unearthed was the 3,106-carat Cullinan Diamond, which was discovered in South Africa in 1905. The precious stone of 1.109 carats, discovered in Botswana in 2015, is now the property of the dealer british Graff Diamonds.

    Near-term bias for crude oil remains positive

    This recent price jump suggests these efforts to rebalance the oil industry by cutting production through early 2018 are working. London Brent crude for November delivery was down 8 cents at $56.78 a barrel by 0614 GMT, near the highest since March.
    Russian Federation  state agents committing abuses in Crimea

    Russian Federation state agents committing abuses in Crimea

    Mr Hussein accused Russian Federation of failing to investigate alleged human rights violations. The Tatar parliament, the Mejlis, boycotted the referendum on joining Russian Federation .
  • Tower Hill station evacuated after claims phone charger exploded on Tube

    Tower Hill station evacuated after claims phone charger exploded on Tube

    A senior officer of the British Transport Police (BTP) said, "The incident at the Tower Hill station is not suspicious ". The explosion occured on a District Line train which was heading towards Ealing Broadway from east London, reports said.
    Saudi Arabia Allows Women To Drive, Backs Down On Long-Standing Ban

    Saudi Arabia Allows Women To Drive, Backs Down On Long-Standing Ban

    Saudi Arabia has just issued a royal decree allowing women to drive for the first time in the history of the Arabian Kingdom . Some women have been arrested and jailed for defying the ban.
    Viral Photo Shows WWII Veteran Kneeling In Support Of NFL Players

    Viral Photo Shows WWII Veteran Kneeling In Support Of NFL Players

    Middlemas, who has previously marched for civil rights, told the News-Leader he thought Trump was "garbage-mouthed". But the image of a World War II veteran defending the rights of Americans to peacefully protest quickly went viral.
  • PSG Accused Of Offering Edinson Cavani £1 Million To Stop Taking Penalties

    PSG Accused Of Offering Edinson Cavani £1 Million To Stop Taking Penalties

    Juan Bernat and Manuel Neuer continue to miss out, but David Alaba should be back in contention after recovering from injury. Bayern and PSG have won their opening games in Group B and will be meeting for the first time in 17 years.
    Japan's snap election could have 'unintended consequences'

    Japan's snap election could have 'unintended consequences'

    Mr Abe said: "I expect opposition criticism is going to focus on (the scandals), and it's going to be a very hard election". He said he was seeking a fresh mandate to overcome " a national crisis " as the threat from North Korea grows.
    The best Sony Xperia XZ1 and XZ1 Compact deals for September 2017

    The best Sony Xperia XZ1 and XZ1 Compact deals for September 2017

    It comes with HDR support, 138% sRGB coverage and a few Sony proprietary technologies like TRLIMUNIOUS and X-Reality unit. On the hardware front, the smartphone runs on the latest Qualcomm Snapdragon 835 processor along with Adreno 540 GPU.
  • Labour plans to nationalise PFI contracts

    Labour plans to nationalise PFI contracts

    These are borrowers who are now paying more in interest and charges than the size of their original loans. And the government said Labour proposals went too far and would hurt the economy.
    Global community must step up Rohingya aid — United Nations  exec

    Global community must step up Rohingya aid — United Nations exec

    Erdoğan claimed that there would be tens of thousands more casualties "if Turkey had not told the world" about events in Myanmar. He said the military's response to the August attacks had been disproportionate and Myanmar risked a terrorist backlash.
    Apple releases iPhone with new capabilities

    Apple releases iPhone with new capabilities

    Apple is known for doing more with less, which usually applies to its custom system-on-chip (in this case, an A11 Bionic chip). Apple sells the iPhone 8 Plus at Rs 73,000 in India whereas the smaller iPhone 8 has a starting price of Rs 64,000.

Most liked

Pittsburgh QB Roethlisberger Regrets National Anthem Protest
He also emphasized that he is not opposed to players who sit or kneel during the national anthem to protest racial inequality. "When we came out of the locker room into that tunnel, it was a very small area".

Dyson to make electric cars by 2020
All we have to go on so far, officially at least, is the rather brief social media announcement made by the company. Aston Martin's former product development director Ian Minards made the same move in September previous year.

Thousands on the Indonesian island of Bali evacuated
More than 75,000 people were evacuated over the past few days as Agung has experienced hundreds of internal volcanic earthquakes. Indonesia's national disaster agency has sent 640,000 face masks, 12,500 mattresses, 8,400 blankets and 50 tents.

National Voter Registration Day: How to register
To register, you must be a USA citizen, an OR resident and 18 years old by the time of the election. Cook County held a big voter registration drive signing up eligible voters throughout the county.

Lourdes and Mercy Health to Offer Free Flu Shots
Nurses expect flu season to pick up sometime next month, and carry through to at least February. The government recommends everyone over the age of six months get a flu shot.

Otto Warmbier blind, deaf and 'jerking violently' on U.S. return, parents say
He was arrested and accused of removing a propaganda poster from his hotel, and sentenced to 15 years in prison. Mr Warmbier also said Otto also bore a large scar on his right foot and was running a high fever on his return.

Spain's chief prosecutor says arrest of Catalan leader 'possible'
Hundreds of police reinforcements, including the national Civil Guard, have been brought into Barcelona and other cities. Rajoy's government claims the referendum would violate the country's constitution.

'Highest Ranking' Russian General Killed in ISIS Attack in Syria
The indirect surface-to-surface fire, he said , was believed to have come from either Syrian or Russian forces. State TV al-Ikhbariya filmed from inside the town, showing plumes of black smoke rising into the sky.

Mkhitaryan aims for a goal against CSKA
Fellaini did not travel with the squad for Wednesday's group stage tie because of the injury that has infuriated Jose Mourinho and his staff.

Equifax CEO quits after massive hack
His previous experience includes executive and managerial roles at Motorola, Inc., The NutraSweet Company and Monsanto Company. Equifax tried to help customers find out if they were affected by the breach , but accidentally sent them to a phony site .

Kris Jenner Breaks Her Silence On Kylie Jenner Pregnancy Rumors
Speaking to The Sun , a rep for her father, Caitlyn Jenner , revealed that the former Olympic champion has know for "some time". A source told the newspaper: 'Caitlyn had to find out that Kylie was pregnant just like everyone else - from the internet.

White House commits $200M per year for K-12 computer science education
Quicken Loans, which is based in Detroit , is focusing its efforts on boosting coding programs in local public schools. The impetus for this new initiative is train the workers of tomorrow for the growing demand of computer-science jobs.

Trump Tweets 6-Minute Video Compilation of McCain Vowing to Repeal ObamaCare
Republicans were elected to repeal Obamacare and their power stems from people who trusted them when they said they would do this. The late-night host pointed to polls showing that more American preferred the Affordable Care Act to the Graham-Cassidy proposal.

United may send Pogba to Finland for surgery on hamstring injury
We won the Champions League match, we won a cup match, so if we manage to change so many draws of last season to victories, it would be great.

Horse race bet with William Hill
How to place a bet To place your wager/bet, all you need is to provide the appropriate information to the ticket writer. Simply you just have to pay £1horse bet and you can easily watch the live horse racing broadcast on your device.