In the Spotlight
Developing countries in Asia will enjoy continued strong economic growth despite a surprise vote by the United Kingdom to leave the European Union that chilled an already tepid recovery in Europe, according to the newly released Asian Development Outlook Supplement.
Despite significant risks to the global economic outlook, prospects for some of the smaller Pacific economies have improved slightly, reflecting stronger than expected performance in tourism, fisheries, and construction. Economies in the region are projected to grow by an average of 3.9% in 2016.
Bond yields in most emerging East Asian markets fell between 1 March and 15 May amid a weak global economy. The exceptions were the People’s Republic of China (PRC) and the Philippines, where yields generally picked up.
Strong relationships with development partners meant ADB operations in 2015 totaled $27.17 billion. ADB’s Donor Report highlights the importance of effective development partnerships in ADB's operations.