The Asian Development Bank (ADB) said on Thursday developing Asia is on track to meet the lender’s economic targets for this year and next year, despite Sino-US trade tensions and the resulting slowdown in the global economy.
ADP still expects the Developing Asia, a group of 45 countries in the Asia-Pacific region, to grow 5.7% in 2019 and 5.6% in 2020.
While the lender maintained its 6.3% and 6.1% growth projections for China for 2019 and 2020, it cut India’s growth forecast to 7.0% in 2019 and 7.2% in 2020, from 7.2% and 7.3%, respectively, seen in April.
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