ACCORDING to
a new report from the OECD Develoment Centre the economic outlook for Emerging
Asia (Southeast Asia, China and India) remains robust over the medium term,
anchored by the steady rise in domestic demand. GDP growth in Emerging Asia
is projected to moderate gradually but stay resilient over the 2014-18 period,
with an average annual growth of 6.9%, albeit less than the 8.6% registered before
the global financial crisis (2000-07). The region will continue to play an important
role in global growth.
The Economic Outlook for Southeast Asia, China and India says Indonesia is
projected to be the fastest-growing ASEAN economy with an average annual
growth rate of 6.0% in 2014-18, followed by the Philippines with 5.8%. Real
GDP growth in Malaysia and Thailand is projected to increase by an annual 5.1%
and 4.9% respectively, led by domestic demand, especially in infrastructure
investment and private consumption. Singapore’s economy is forecast to grow
by 3.3%. Cambodia, Lao PDR, Myanmar and Viet Nam are expected to grow at a
robust pace over the medium term.
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