Manila: Asia, excluding Japan, should grow above 8% in 2007, said Asian Development Bank Chief Economist Ifzal Ali on 2 July, higher than a previous forecast of 7.6%.
“It’s even better than we thought earlier,” he told Reuters on the sidelines of an ADB forum in Manila.
He said growth in developing Asia this year would exceed previous projections because of a strong performance from China and India. Ali said he expected China to grow “a shade less than 10%.” For India, he expects it to grow close to 8% or possibly above that.
The ADB defines developing Asia as comprising the seven Central Asian republics, nine nations in Southeast Asia, eight nations in South Asia, as well as China, Hong Kong, Mongolia, Taiwan, South Korea, and Pacific island nations.