INDIA The International Monetary Fund on Thursday more than doubled its forecast for Asian economic growth for the year and raised its forecast for 2010, reflecting a sharp improvement in the region’s prospects over the past six months.
In its latest Asia Pacific regional economic outlook, the fund forecast growth in gross domestic product of 2.8 per cent for this year and of 5.8 per cent for 2010. In May, the IMF said growth would be just 1.2 per cent in 2009 and 4.3 per cent in 2010.
