Asia is expected
to outshine the World economy by leaps & bound
in 2006, mainly due to excellent growth in China,
Central Asia & to some extent in India. Asian
Development Bank estimates that economy in Asia
in 2006 will grow by 7.2%.
China & India combined enjoy more than 50%
of the economy of Asia. China continues to show
excellent growth in 2006. It is expected to show
at least 10% growth in 2006, if not higher. India, thus far with robust economic growth second
only to China, is expected to marginally slow
down due to higher oil prices and increasing inflation.
The Asian Development Bank has estimated the growth
of India in 2006 at 7.8%. However, other experts
are confident that India will achieve 8% growth
in 2006.
Asian Development Bank expects the East Asia to grow at a fast pace and reach a level of 8.2%. This is mainly due to strength of fixed investment and exports in China.
South Asia should grow by 7.5% this year, after averaging 7.7% annually since 2002.
Central Asia should grow by 11.3% this year and the remaining region of Asia will show growth of 5.5%. |
