AP - Asia's developing economies will slow over the next two years, the Asian Development Bank projected Tuesday, but the more moderate pace is seen stabilizing the region and putting it on better footing for solid growth in the future.
In 2008, China's growth is expected to dip to a still strong 9.8 percent, which would snap five straight years of double-digit growth, the bank said.
India booked a growth rate of 9.2 percent last year, its highest since 1988. But it's seen easing down to 8 percent in 2007 and 8.3 percent the following year.
Southeast Asia, which includes Thailand, Singapore and Malaysia, is projected to slow to 5.6 percent this year and hit 5.9 percent in 2008. Their economies logged 6 percent growth in 2006, the ADB said.
Inflation throughout developing Asia — a group of 43 countries — is expected to ease to an average 3.0 percent this year from 3.4 percent last year, before rising back to 3.2 percent in 2008.
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