ADB forecasts growth in region by 6% next year

In order to speed recovery from the global economic crisis, the Asia-Pacific region must rebalance growth, Asian Development Bank (ADB) President Haruhiko Kuroda said during the opening session of the 42nd Annual Meeting in Bali, Indonesia, on May 4. Kuroda stressed the importance of continuing to support the region’s growth and poverty reduction efforts, as Asia-Pacific’s aggregate growth has been predicted to fall to 3.4% in 2009. With “strong national and regional efforts and a mild recovery expected in the global economy next year,” the region should bounce back to 6% growth in 2010, he said. (May 4, 2009)