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ADB forecasts slower growth for Asia in 2015
23 Sep '15
4 min read
Global oil prices have remained low as food prices declined under favorable supply conditions. Relatively soft domestic demand will let regional inflation slip from 3 per cent in 2014 to 2.3 per cent in 2015 before it bounces back to 3 per cent in 2016,the report said. Although forecast inflation is much lower than the regional long-run rate of about 4 per cent, the impending rise in US interest rates may constrain scope in the region for loosening monetary policy to boost domestic demand.
Developing Asia's current account surplus is forecast to widen from the equivalent of 2.4 per cent of regional GDP in 2014 to 2.5 per cent in 2015 before falling back slightly to 2.3 per cent in 2016. The projections are the same as in ADO 2015, as narrowing surpluses in commodity-exporting countries are offset by improved external balances for commodity importers, the report said. (SH)
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