​New Briefs: Asia Pacific Leads | Phnom Penh Post

New Briefs: Asia Pacific Leads

National

Publication date
07 May 1993 | 07:00 ICT

Reporter : Post Staff

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Disappointed kaZantip festival-goers dance at a consolation party on a Sihanoukville beach. MAX Elvinger

MANILA, Philippines (AP) - The Asia-Pacific region will continue to post Robust economic

growth this year and next while the rest of the world crawls out of a slump, the

Asian Development Bank said in a report released Friday.

"Despite a number of uncertainties, the world economy is expected to register

marginal improvement in 1993 with further acceleration in 1994," the bank report

said.

The report, "Asian Development outlook 1993," said gross national product

is projected to grow by 1.5 percent in 1993, and rise to 3.5 percent next year.

But the higher growth rate in 1994 "will be insufficient to reduce high unemploment

rates and excess capacity in many economies," the report said.

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