ADB revises Pakistan outlook upwards

[farhan_9909]

ISLAMABAD: The Asian Development Bank (ADB) has revised its forecast for the economic growth of Pakistan in its supplement to ‘Asian Development Outlook’ (ADO), which says ‘Pakistan’s economic growth has surprised on the high side in 2013-14.”

“Pakistan recorded growth in the previous fiscal year at 4.1 per cent above the ADO 2014 forecast of 3.4pc in April,” the ADB says in its ADO supplement released on Friday. The report further says that in South Asia, Pakistan now expects slower inflation across 2014 and 2015 as an appreciating Pakistani rupee helps contain local prices for imports.

With outcomes in economies other than Afghanistan basically in line with earlier expectations, the forecast for South Asia in 2014 nudged up 0.1 percentage points to 5.4pc. The improved outlook for India pushes up the 2015 forecast for South Asia from 5.8pc to 6.1pc.

The growth outlook for developing Asia is stable, with the region projected to grow steadily at 6.2pc in 2014 and 6.4pc in 2015, the report says.

Moody's puts positive outlook for Pakistan's economy

AFP adds: However, the Manila-based lender downgraded its economic outlook for Southeast Asia, citing political tensions in Thailand and Vietnam and soft external demand in Indonesia.

The ADB said it expected GDP to grow 4.7 per cent for the year, compared with its April projection of 5pc.

Indonesia’s growth for the first quarter of the year slowed to 5.2pc with low commodity prices and a temporary export ban on selected minerals slowing recovery in net exports, the bank said.

In Thailand, the economy contracted 0.6pc in the first three months of the year, as “political deadlock” hit domestic demand and the crucial tourism industry.

The bank also said adjustments were made to Vietnam’s economic forecast due to the economic effect of tensions with China. “Recent data suggest that Southeast Asia has softened...as growth prospects faltered,” the ADB supplement said, adding that it sees growth of 5.4pc in 2015.

Published in Dawn, July 19th , 2014

ADB revises Pakistan outlook upwards - Newspaper - DAWN.COM

 

[Fracker]

Everyone, including ADB, Moody, IMF all are paid by PML-N.

 

[farhan_9909]

Not sure why but the Govt has increased the Achieved Growth rate mark to 4.3% from 4.1% and has also sent a letter to IMF regarding this

Can anyone confirm the latest 4.3% Growth rate?

 

[SBD-3]

Everyone, including ADB, Moody, IMF all are paid by PML-N.

True that, oh and also include US, UN,UNDP anything....................

 

[farhan_9909]

ADB has confirmed Pakistan Growth rate to be 4.1%


ADB acknowledges Pak growth rate at 4.1pc - thenews.com.pk

Mehtab HaiderSaturday, July 19, 2014
From Print Edition


14 6 5 0


ISLAMABAD: The Asian Development Bank (ADB) said on Friday that Pakistan’s growth for the fiscal year that ended in June 2014 was surprisingly at the higher side – 4.1 percent as compared to the bank’s forecast at 3.4 percent.



The supplement of Asian Development Outlook (ADO) 2014 inserted the gross domestic product growth figure of 4.1 percent, which was officially claimed by the government of Pakistan.



The controversy over GDP growth figure further deepened recently when the International Monetary Fund in its latest report forecast GDP growth in the range of 3.3 percent for the last fiscal year (2013-14). The Ministry of Finance had to come forward to explain that it was a ‘typo error’, which was also conveyed to the IMF.



Pakistan Bureau of Statistics (PBS), which made commitment to release quarterly GDP growth figures, had preferred not to release the growth figures for the third quarter (Jan-March), due on July 1, 2014.



This raised suspicion on the credibility of the GDP growth figures. Many economists opined that had the GDP growth figures of third quarter been released, the overall growth would have come down to below four percent of GDP.



However, according to ADO 2014, developing Asia remains on track toward steady growth in 2014 despite slower-than-expected growth in the United States in the first quarter.



The ADB forecast 6.2 percent growth in 2014 and 6.4 percent in 2015 for the region’s 45 developing economies.



“Developing Asia as a region continues to perform well,” said ADB Deputy Chief Economist Juzhong Zhuang. “The pace of the growth moderation in the People’s Republic of China is in line with our expectations, while the stage is set for India to pursue reform that could unlock its growth potential.”



The major industrial economies are anticipated to expand by 1.5 percent this year, a downward revision from 1.9 percent forecast in April’s ADO 2014. Japan’s robust first quarter performance has somewhat offset softer US growth, while the euro area has generally met expectations.



In East Asia, quarterly growth in China met ADB expectations with steady consumer demand, targeted government measures to stabilise investment and a pickup in external demand in the second quarter of 2014.



Both retail sales and industrial production have been picking up pace. Overall, China is on track to meet ADO 2014 forecasts of 7.5 percent growth in 2014 and 7.4 percent in 2015.



Improving prospects in India have buoyed South Asia’s growth outlook somewhat. The new government—the first to hold a single-party majority in the lower house since 1984—outlined a 10-point plan to revive the Indian economy, prioritising infrastructure and investment reforms, faster resolution of inter-ministerial issues, efficient policy execution and policy stability.



While detail on the structural reforms remains limited, it is expected that greater political certainty will support a pickup in infrastructure investment.



The ADB maintains its growth forecast at 5.5 percent for the fiscal 2014 but upgrades its FY2015 forecast by 0.3 percentage points to 6.3 percent as anticipated reform bears fruit. Nepal’s growth was seeing a strong finish to its fiscal year.



Overall, South Asia’s 2014 forecast is nudged up 0.1 percentage points to 5.4 percent. The improved outlook in India pushes up the sub-regional forecast for 2015 from 5.8 percent to 6.1 percent.



The outlook for Southeast Asia has softened as growth prospects falter in Indonesia, Thailand, and Vietnam. In Indonesia, first quarter 2014 growth slowed to 5.2 percent as soft external demand, low commodity prices, and the temporary ban on select mineral exports undermined the recovery of net exports.



Thailand’s economy contracted by 0.6 percent in the first quarter as the political deadlock affected domestic demand and tourism. Vietnam’s growth forecast has been slightly adjusted to account for the effect of tensions with China on economic activities, including recent factory riots. The 2014 forecast for the sub-region is downgraded by 0.3 percentage points to 4.7 percent. As the factors slowing growth in 2014 are expected to be temporary, the forecast growth of 5.4 percent in 2015 has been maintained.



Growth in Central Asia is gradually moderating, with many economies affected by the deteriorating outlook of the Russian Federation. Revised projections reflect weaker-than-expected performances in Kazakhstan, Kyrgyz Republic and Uzbekistan so far in 2014.



Aggregate growth projections for the region are revised down to 6.3 percent in 2014 and further to 6.1 percent in 2015 from 6.5 percent forecast for both years in ADO 2014.



A devastating tropical storm in Solomon Islands and weaker-than-expected indicators for Palau and Timor-Leste are holding back growth in the Pacific. Overall, Pacific GDP is expected to grow 5.2 percent in 2014, a 0.2 percentage point decline from the ADO 2014 forecast. The pace of growth is expected to soar to 13.2 percent in 2015 led by a one-time growth surge in Papua New Guinea from its first full year of liquefied natural gas exports.



The Asian Development Outlook is ADB’s main economic forecasting product. It is published each April with an update published in September and brief supplements published in July and December. All materials are available at Economic Research Publications | Asian Development Bank

 

[FunkyGen]

ADB has confirmed Pakistan Growth rate to be 4.1%

Which is good enough for now considering the circumstances.....


Captain Sahab Khudara! Khudara! Pakistan ko Chalne dein..... Tsunami zyada a rha hai tu bathroom ka rukh karien SHUKRIYA

 

[fjavaid]

ISLAMABAD: The Asian Development Bank (ADB) has revised its forecast for the economic growth of Pakistan in its supplement to ‘Asian Development Outlook’ (ADO), which says ‘Pakistan’s economic growth has surprised on the high side in 2013-14.”

“Pakistan recorded growth in the previous fiscal year at 4.1 per cent above the ADO 2014 forecast of 3.4pc in April,” the ADB says in its ADO supplement released on Friday. The report further says that in South Asia, Pakistan now expects slower inflation across 2014 and 2015 as an appreciating Pakistani rupee helps contain local prices for imports.

Moody's puts positive outlook for Pakistan's economy

AFP adds: However, the Manila-based lender downgraded its economic outlook for Southeast Asia, citing political tensions in Thailand and Vietnam and soft external demand in Indonesia.

The ADB said it expected GDP to grow 4.7 per cent for the year, compared with its April projection of 5pc.

I


Published in Dawn, July 19th , 2014

ADB revises Pakistan outlook upwards - Newspaper - DAWN.COM

per besharam Pityfull goons to abhi bhi kuch nai nazer ana ...all they hear n understand is ......Dhandaliiiii haiii & dharnaaaa khappaayy khaapyaaaaaa

 

[SBD-3]

Captain Sahab Khudara! Khudara! Pakistan ko Chalne dein..... Tsunami zyada a rha hai tu bathroom ka rukh karien SHUKRIYA

To phir Kaptan sahib ko PM banado...

 

[Kabira]

Not sure why but the Govt has increased the Achieved Growth rate mark to 4.3% from 4.1% and has also sent a letter to IMF regarding this

Can anyone confirm the latest 4.3% Growth rate?

When they announced 4.1%, it was mentioned that overall growth can be down to 3.9% for full year. Lets wait for complete year report in Octuber. It can also increase.

So far now we know 4.1% is actual growth rate for first 9 months.