World Bank released South Asia Economic Focus report [ Current Affairs ]
World Bank released South Asia Economic Focus report for the economic growth of South Asia for the year 2016 and 2017. According to the report, economic growth of the region will increase from 7 percent in 2015 to 7.6 percent by 2017. The region is among the greatest global beneficiaries from cheap oil, as all countries in it are net oil importers.
- Region Wise Projection report, Projection for India- GDP growth is expected to accelerate to 7.5% in fiscal year 2015-16. It could reach 8% in FY 2017-18.
- Projection for Afghanistan- GDP growth is expected to accelerate to increase the rate from 2.5% in 2015 to 5.0% in 2016. Reason behind the achieving this growth, Afghanistan should pave a way towards successful political transition which needs to be supplemented by a stable security environment.
- Projection for Bangladesh- GDP growth is expected to accelerate to 5.6% by 2015.It will require a continuation of single-digit inflation, an improved investment climate, and above all political stability.
- Projection for Bhutan- GDP growth is expected to accelerate to 6.7% in 2015, driven by new hydropower construction and innovative tourism measures such as Visit Bhutan 2015.
- Projection for Nepal- The GDP growth will remain in the 4.5 to 5% range. The fact that consumption remains the country’s main growth driver leaves it vulnerable to a slowdown in remittance growth.
- Projection for Pakistan- GDP growth is expected to accelerate to around 4.6% growth by 2016 is aided by low inflation, and fiscal consolidation.
- Projection for Sri Lanka- GDP growth is expected to decline to 6.9% in 2015 due to slowing construction activity.
- Published on: April 16, 2015