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 * Financial Stability


ASIAN DEVELOPMENT BANK RAISES GROWTH OUTLOOK FOR ASIA


INFLATION FORECAST FALLS FROM EARLIER PROJECTION

 * * Central Banking Newsdesk
   * 17 Jul 2024

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The Asian Development Bank (ADB) raised its growth forecast for Asia for this
year to 5% from an April projection of 4.9%, driven by upward revisions for East
Asia and the Caucasus.

Strong domestic demand and greater exports and manufacturing will support the
higher growth in Asia this year, the ADB said. Its prediction for next year
remains unchanged at 4.9%.

Its forecast for East Asia went up to 4.6% from 4.5% earlier, thanks to strong
exports of semiconductors and digital goods from South Korea

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