Wang Ye said financial news: On December 17, it was reported that just recently, the Asian Development Bank announced an increase in the forecast for Asian economic development in 2023. So why is ADB raising its economic forecast for Asia? What are the GDP growth expectations for China, India, and Vietnam?
Just recently, the Asian Development Bank (ADB) released its latest Asian Development Outlook 2023 (December Edition) report.
According to the report, the GDP of developing economies in the Asia-Pacific region will grow by 4 in 20239%, compared to 4 in September7%, as shown in the figure below:
In addition, ADB maintains 4GDP growth of 8% was unchanged**.
So the question is: Why did ADB raise its forecast for Asian economic growth this year?
In response, ADB said that the main reason for the upward revision of the GDP growth forecast for Asian economies is that the economic growth of China and India exceeded expectations.
In terms of specific data, ADB**, as household consumption and public investment boosted China's economic growth in the third quarter, in view of this, ADB**, China's GDP will grow by 5 this year2% compared to 49%；Maintain China's GDP growth rate of 4 in 20245% unchanged.
At the same time, India's GDP growth forecast for 2023 is also expected to increase India's GDP growth from 6., spurred by double-digit industrial growth, which was spurred by double-digit industrial growth in July-September3% to 67%, India's GDP growth rate will remain at 6 in 20247% unchanged.
Finally, ADB said that the upward revisions in China and India were sufficient to offset the downward revisions in Southeast Asia due to the mediocre manufacturing sector.
As for the countries of Southeast Asia, as shown in the figure below:
ADB**, Viet Nam's GDP growth rate is 52%, compared to 6% in 2024; Indonesia's GDP growth rate in 2023 and 2024 will be 5%; Singapore 1% in 2023 and 2 in 20245%。
What do you think about this? What do you think will be the GDP growth rate of Asian countries in 2023?
Thank you all for reading and **, welcomeLeave a message, commentIf you like our article, you can directly belowLikes, recommendationsOne time.