Asian Development Outlook 2015

Date: March 28, 2015

Asian Development Bank India China

Asian Development Bank (ADB) released Asian Development Outlook 2015

The Asian Development Bank (ADB) released the Asian Development Outlook (ADO)  entitled "Financing Asia’s Future Growth". The report projected that India will overtake China in terms growth rate in current and next finaicial years. It is forecasted that India will grow @ 7.4 % in FY 2014, 7.8 % in FY 2015 and 8.2% in 2016 compared to China’s growth rate of 7.4 % in FY 2014, 7.2 % in FY 2015 and 7.0 % in FY 2016.

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Highlights of the ADO 2015-
• Developing Asia will grow at a steady 6.3percent in 2015 and 2016—the same pace as 2014.
• Driven by the fall in oil prices, Inflation will slow from 3.1 percent in 2014 to 2.6 percent in 2015. As oil prices gradually rebound, inflation will pick up to 3.0 percent in 2016.
• Driven by the growth in the United States (US), the major industrial economies are collectively forecast to expand by 2.2 percent in 2015 and accelerate further to 2.4 percent in 2016.
• Weaker investment in real estates in China is expected to further curtail growth to 7.2 percent in 2015 and 7.0percent in 2016. China grew at a pace of 7.4 percent in 2014.
• The combined GDP of the 10 ASEAN economies is forecast to expand by 4.9 percent in 2015, lifted from 4.4 percent in 2014 by recovery in Indonesia and Thailand.
• Developing Asia has been the main source of global growth since the Financial Crisis in 2009. The region contributed 2.3 percentage points to global GDP growth, nearly 60 percent of the world’s annual 4.0 percent pace.

 

for more analysis visit http://www.livemint.com/Opinion/hBpSwT2vcNHL5T2AbiWzTP/Will-India-grow-faster-than-China.html