Asian Development Banks lowers East Asia expected growth rate

Note: This section contains information in English only.
Source: BBC
© Scanpix/FP

The Asian Development Bank downgraded growth forecast for East Asia for 2012 citing recession in the developed economies such as US and Europe. The bank projects 14 countries in the Asia to expand growth by 7.2% as compared to 7.5% expected earlier. The decrease in growth forecast was caused mainly by low export prospects, the bank added.

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