Economic growth in South Asia dropped to an estimated 5.4% in 2012 is mainly due to a sharp slowdown in India, where GDP growth is forecast at 5.4% in the fiscal year ending March 2013
According the Global Economic Prospects 2013, released on Tuesday, economic growth in the region dropped to an estimated 5.4% in 2012 from 7.4% the previous year.
This is mainly due to a sharp slowdown in
It added that weak global demand exacerbated region specific factors, including subdued investment growth, electricity shortages, policy uncertainties, and a weak monsoon.
“Regional GDP is projected to grow by 5.7% in the 2013 calendar year, and by 6.4% and 6.7% in 2014 and 2015 respectively driven by policy reforms in India, stronger investment activity, normal agricultural production, and improvement in export demand.
According to the report, in
Bangladesh’s growth is projected to slow to 5.8% in 2012-13 (6.3% in 2011-12) and Nepal’s growth to 3.8% in 2012-13 (4.6% in 2011-12),” it said.
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