Developing Asia’s growth outlook this year is revised slightly down from that published in March in Asian Development Outlook 2016 with growth forecast for developing economies at 5.6%. For 2017, growth is seen unchanged at 5.7%.
Growth in Central Asia is weaker than predicted, while expansion in the Pacific is now expected to be a touch higher. Forecasts are unchanged for East, South, and Southeast Asia. While the Brexit vote has affected developing Asia’s currency and stock markets, its impact on the real economy in the short term is expected to be small.
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