Manila based institution, Asian Development Bank released an update of Asian Development Outlook on Wednesday which clearly stated that Asia will grow 6% this year and 5.8% next year. According to the report, China is expected to grow 6.6% and 6.3% in 2018,2019 where India is expected to grow 7.3% and 7.6% in the same period.
The reasons for growth are stated as strong domestic demand and easing inflation pressures with risks of rising of trade protectionism. The growth of Central Asia rose to 4.3% from expected rate 4.2%. However, the rate decreased to 5.1% and 7.1% for the period of 2018,2019 for Southeast Asia.