Asian growth strong through 1994: IMF<\/p>\n
WASHINGTON (AFP): Asian economies are expected to show robust
\ngrowth this year, with China bringing the tendency of its economy
\nto overheat under control, the IMF said in a report released here
\nyesterday.<\/p>\n
Asian economies are expected to show average growth of 7.5
\npercent in 1994, down from 8.4 percent in 1993 but still markedly
\nbetter than the world forecast of three percent, according to the
\nInternational Monetary Fund's six-monthly World Economic Outlook
\nreport.<\/p>\n
Activity in China slowed in the latter part of last year in a
\nbid to contain unsustainably rapid growth, but the country showed
\n13 percent growth.<\/p>\n
This will slow this year, but Beijing is still forecast to
\nshow an economic growth rate of 10 percent, maintaining it as the
\nregion's fastest-growing economy.<\/p>\n
Indonesia's economic growth will likely decline from 6.5
\npercent last year to 6.2 percent this year.<\/p>\n
India performed less well than expected last year, but \"an
\nexpected revival in investment and the prospect of sustained
\nexport growth support the stronger growth forecast for 1994,\"
\nwith growth forecast at 4.8 percent, up from 4.1 percent.<\/p>\n
In South Korea, \"the outlook is for robust growth, supported
\nby both consumption and investment,\" while Indonesia, Malaysia,
\nPakistan and Taiwan remain buoyant, with growth this year
\nforecast at six to eight percent.<\/p>\n
Net direct investment and external borrowing in Asia are
\nexpected to remain high at US$48 billion, the report said,
\nroughly half the total flow to developing countries.
\nChina accounts for more than a third of the total for Asia.<\/p>\n
In Japan, there are signs of improvement in confidence in the
\nJapanese economy, but it remains fragile, the IMF said.<\/p>\n
\"But the fragility of the projected recovery continues to be
\nof concern, as underlined by a significant downward revision of
\nthe growth projection for 1994,\" it said.<\/p>\n
The IMF is now projecting growth of 0.7 percent for 1994, down
\nfrom a forecast of two percent in the last report in October, but
\nrising to 2.3 percent in 1995.<\/p>\n
Table<\/p>\n
Herewith are the economic growth and inflation in Asian
\ncountries as forecast by the IMF.<\/p>\n
[Tabulate in 1 col]<\/p>\n
GROWTH (gross domestic product):<\/p>\n
1993 1994<\/p>\n
Asia 8.4% 7.5%
\nChina 13.1% 10.0%
\nIndia 4.1% 4.8%
\nIndonesia 6.5% 6.2%
\nSouth Korea 5.3% 6.3%
\nPakistan 5.1% 7.0%
\nPhilippines 1.8% 3.5%
\nTaiwan 5.7% 5.8%
\nThailand 7.8% 8.2%
\nJapan 0.1% 0.7%<\/p>\n
INFLATION
\n(consumer prices)
\nAsia 9.5% 7.9%
\nChina 13.0% 10.0%
\nIndia 9.9% 8.5%
\nIndonesia 9.7% 6.0%
\nSouth Korea 4.8% 4.7%
\nPakistan 8.7% 7.2%
\nPhilippines 7.6% 10.0%
\nTaiwan 2.9% 3.0%
\nThailand 3.3% 5.0%
\nJapan 1.3% 0.9%<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asian-growth-strong-through-1994-imf-1447899208",
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