The Asian Development Bank downgraded economic growth forecasts for India and Southeast Asia for 2019 as global risks from trade tensions to Brexit mount.
Gross domestic product in India will probably increase 7.2 percent this year, down from a December forecast of 7.6 percent, according to the ADB’s latest Asian Development Outlook report. Southeast Asia’s growth estimate was lowered by 0.2 percentage point to 4.9 percent.
A drawn-out or deteriorating trade conflict between China and the U.S. could dampinvestment, the ADB said, while the U.K.’s potential chaotic exit from the European Union and financial market volatility comes with additional risks.
“With various uncertainties stemming from U.S. fiscal policy and a possible disorderly Brexit, growth in the advanced economies could turn out slower than expected, undermining the outlook” for China and other economies in the region, Yasuyuki Sawada, the ADB’s chief economist, said in the report.
Source: Bloomberg
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
