Strong growth in Asia seen slowing to 8.2%<\/p>\n
TOKYO (AFP): Asian economies should sustain strong but slowing
\ngrowth next year, reports quoted a Japanese government think tank
\nsaying yesterday.<\/p>\n
The Institute of Developing Economies said real growth in
\ngross domestic product (GDP) for 10 Asian economies excluding
\nJapan would slow to 8.2 percent in calendar 1996 from an
\nestimated 8.5 percent in 1995, according to reports by Kyodo news
\nagency and Jiji Press.<\/p>\n
The institute said while growth would be fed by exports from
\nand investment in the Association of Southeast Asian Nations
\n(ASEAN), it was expected to decline in some countries due to slow
\nexports and tight credit policies.<\/p>\n
China was expected to show growth of 10.3 percent from an
\nestimated 10.1 percent this year, it said.<\/p>\n
The country was likely to experience inflation of 13.2 percent
\nagainst 10.9 percent this year, prompting monetary authorities to
\ntighten credit, but exports were seen increasing along with
\ninvestment in the country.<\/p>\n
The four newly-industrialized economies -- Hong Kong, South
\nKorea, Singapore and Taiwan -- should achieve as a group growth
\nof 7.0 percent, down from an estimated 7.7 percent in 1995.
\nInflation was expected to remain unchanged from the previous year
\nat 4.7 percent in 1996.<\/p>\n
Among ASEAN members, Indonesia, Malaysia, the Philippines,
\nThailand and Vietnam should post real economic growth of 8.0
\npercent, marginally lower than the 8.1 percent for this year,
\nsupported by brisk exports and foreign investment. Inflation
\nwould ease slightly from 7.2 percent to 6.7 percent.<\/p>\n
The institute said that economic growth in the Philippines
\nwould exceed inflation thanks to foreign investment and bullish
\nexports helped by the consolidation of economic infrastructure.<\/p>",
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