Asia should rebound in 2010

‘Asia should rebound in 2010’

Indo-Asian News Service
BALI, May 4: Developing countries in Asia should be able to rebound from the global economic crisis and reach six per cent growth next year, the president of the Asian Development Bank (ADB), Mr Haruhiko Kuroda, said here today.
Growth in the region was expected to fall to 3.4 per cent this year from 6.3 per cent last year and record a growth of 9.5 per cent in 2007, Mr Kuroda said.
"With strong national and regional efforts and a mild recovery expected in the global economy next year, developing Asia should bounce back to six per cent growth in 2010," Mr Kuroda said at the opening of the bank's annual meeting.
"Therefore, this should not be a time of despair," he said. "Our region continues to grow and will remain the touchstone of dynamism and hope, contributing substantially to global growth and poverty reduction."

India
The Indian economy will recover from the slowdown in the second half of 2009-10, thanks to the strong domestic market and improving financial sector, investment bank Goldman Sachs said today, according to a report from New Delhi.
"We expect a recovery in activity in the second half of fiscal 2009-10, led by a pick-up in domestic demand amid the loosening financial conditions," Mr Tushar Poddar, an economist with Goldman Sachs, said.