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Asian economic outlook

Discussions | SINGAPORE Fri 4 - Fri 4 Aug 2017

Yasuki Sawada
Yasuki Sawada

Singapore

Innovation, extensive human capital and infrastructure improvements can pave the way towards higher incomes in Asia, acording to Yasuyuki Sawada, chief economist of the Asian Development Bank, speaking at an OMFIF discussion on the region's economic outlook at the Lew Kuan Yew School of Public Policy in Singapore.

Key topics of discussion included:

  • The GDP growth forecast of 5.7% for developing Asia in 2017 and 2018, a slight fall from 2016, mainly due to growth moderation in China.
  • Innovation, human capital and infrastructure can accelerate productivity growth of middle income economies to pave the way to higher incomes.
  • Developing Asia needs $26tn for infrastructure investment in 2016-2030, necessitating increases in both public and private infrastructure finance. Reforms for de-risking sustainable infrastructure are key.