MANILA:The Asian Development Bank (ADB) has lowered its 2016 growth forecast for developing Asia, citing the slowing US economy and near-term shocks from Britain’s decision to leave the European Union (EU).
Developing Asia, which groups 45 countries in the Asia-Pacific region, is now expected to expand 5.6% this year, slightly weaker than a March forecast of 5.7%, the ADB said in a supplement to its Asian Development Outlook 2016.
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