PNG slowdown pushing regional growth lower in the Pacific

ADB PEM march 2013“In the latest issue of the Pacific Economic Monitor, released yesterday (March 26), the ADB forecasts that the average rate of growth in its 14 developing member countries in the Pacific region will fall to 5.2%, as earlier gains from major foreign investments and public infrastructure projects fade. The performance of the region’s larger natural resource exporting economies (Papua New Guinea (PNG) and Timor-Leste) continues to drive the economic outlook, with these two economies comprising about two-thirds of the weight in the regional growth average…” [read more].

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