ADB Predicted Increase in Asia’s GDP Growth

The Asian Development Bank (ADB) on 20 July 2010 raised GDP (Gross Domestic Product) growth prospects for Developing Asian economies in the year 2010 from 7.5% to 7.9%. However, ADB kept its GDP growth rate predictions unchanged for India at 8.2% and for China at 9.6% for the year 2010. The basis of ADB prediction is surge in exports, increase in demand and stimulus measures adopted by nations.
Earlier, ADB had predicted 7.5% GDP growth for Asian countries in its Asian Development Outlook (ADO) 2010 which was released in April 2010.
Developing Asian Economies comprise member countries of ADB which covers countries from South Asia, South East Asia, Central Asia and East Asia.
• ADB is an international development finance institution established in 1966 headquartered in Manila.
• ADB’s objective is to help developing countries reduce poverty and improve the quality of life of their people.
• ADB has a total of 67 countries as its members.