Economic growth in Asia's developing nations is set to ease from an 11-year peak, the Asian Development Bank (ADB) said on Tuesday, adding the region needed to put its burgeoning foreign exchange stockpile to better use.
Although home to about two-thirds of the world's poor, the region has witnessed sharp economic growth in recent years, peaking at an average 8.3 per cent in 2006, the highest since 1995, the Manila-based institution said in its annual outlook.
Growth in Asia's developing economies, including powerhouses China and India, is expected to ease to a brisk 7.6 per cent in 2007 and 7.7 per cent in 2008, it said.
"These projections imply that growth will move onto a more sustainable footing and that overheating pressures that surfaced in 2006 will begin to abate," it said.
Courtesy : Expressindia.com
Although home to about two-thirds of the world's poor, the region has witnessed sharp economic growth in recent years, peaking at an average 8.3 per cent in 2006, the highest since 1995, the Manila-based institution said in its annual outlook.
Growth in Asia's developing economies, including powerhouses China and India, is expected to ease to a brisk 7.6 per cent in 2007 and 7.7 per cent in 2008, it said.
"These projections imply that growth will move onto a more sustainable footing and that overheating pressures that surfaced in 2006 will begin to abate," it said.
Courtesy : Expressindia.com