Meltdown Holds Mixed Results for South Asia

Inter Press Service by Prime Sarmiento | Mar. 17, 2009 (News Report)

The AsDB study, presented at a forum here earlier this month, expects a 6.7 percent growth for South Asia in 2009. This may be modest compared to the 8.6 percent growth posted in 2007, but still implies that the AsDB does not expect the sub-region to fall into recession any time soon. Full Story »

Posted by Peter Barnett

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by Peter Barnett - Mar. 17, 2009

A concise factual summary

The fallout hasn't settled yet - but I hope the optimistic forecast is right.

The extent of deceleration took everyone, including the Prime Minister’s Economic Advisory Council, by surprise. Against all odds, they were hoping to average out at a 7% growth rate. This CSO figure was below earlier projections by the Reserve Bank of India and the Economic Advisory Council this January.

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