Asian economy to attain 8.3% growth this year: ADB

( Xinhua )
Updated: 2007-09-17 11:48

The developing Asian economies will attain an 8.3 percent growth in 2007, driven by fast growth in China and India, the Asian Development Bank (ADB) said on Monday.

In a major semi-annual report on Asian economy, the ADB said China and India account for 55.3 percent of the total gross domestic product (GDP) in developing Asia.

The two countries also recorded their fastest growth in 13 years in the first half of 2007 and 18 years in fiscal year 2006, respectively, said ADB.

The Asian Development Outlook 2007 Update (ADO Update) said that economy growth in Asia is now more broad-based as other regions like South Asia and Central Asia continue to post robust growth, and growth accelerates in other economies, such as Indonesia and the Philippines.