Asian economies to meet Asian Development Bank's growth targets

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.