ADB keeps China growth forecast unchanged at 6.7 pct

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.

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".

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:

Most liked

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.

Republican senators offer conservative alternative to DREAM Act
There's so many issues with immigration and it's been so many decades since those issues have been addressed. Whether they will actually be deported after that point is unclear.

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.

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.

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.

M'sia regrets Asean statement on Rohingyas
Aye said most bodies were of women and children, many with their hands tied, and some which had been beheaded. He said a commission led by former U.N.

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.

Mexico City slowly reopens schools after quake
Others among the 20 million people who live in greater Mexico City were gradually resuming their routines, however. Similar scenes have been playing out across central Mexico since Tuesday's 7.1 magnitude natural disaster struck.

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.

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.

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.

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.

Intel's new 8th gen desktop processors available for purchase beginning October 5th
Some of the higher-end eighth-gen chips do give the Core X models a run for their money, however, at least on paper. The chips include include the new Intel Core i7-8700K - which the firm touts as its " best gaming processor ever".

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.