Asian growth to remain flat in 2003, says ADB
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12/12/2002
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Pioneer (New Delhi)
Asia's economic growth is expected to remain flat in 2003 with India, China, South Korea and Vietnam projected to lead the region's growth, the Asian Development Bank (ADB) said on Thursday. The Manila-based bank forecast that the region would expand 5.6 per cent next year, the same as expected in 2002, with the threat of a war in Iraq, a faltering US economy and deflationary concerns in the region posing major risks. While India, China, South Korea and Vietnam are projected to lead the region's growth, the export-driven Southeast Asian economies would do moderately well, ADB's chief economist Ifzal Ali told a media briefing.