Major emerging economies to maintain similar economic growth levels as 2018: report

Tuesday, 2019-03-26 11:07:32
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Tourists visit a duty free shop in Sanya, south China's Hainan Province, Feb. 18, 2018. (Illustrative image/ Source: Xinhua)
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Major emerging economies will maintain a similar level of economic growth in 2019 as last year, said a Boao Forum for Asia (BFA) report on March 26.

The report, titled "Development of Emerging Economies Annual Report 2019," was released at a press conference of the BFA annual conference, which runs from March 26 to 30 in southern China's Hainan Province.

The major emerging economies, defined by the forum as "E11," refer to the economies of Argentina, Brazil, China, India, Indonesia, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa and Turkey.

Slightly pressured by the economic slowdown, the economies saw average GDP growth of about 5.2 percent in 2018, slightly lower than their growth rate in 2017. Despite their easing growth, their growth rate was higher than that of the world economy as a whole, the report said.

Drastic fluctuations of economic growth in the E11 economies will be less likely to occur in 2019, but the economies would still be faced with downward pressure. In consideration of reinforced policy means by various countries to address economic recession risks, economic growth of the E11 in 2019 may basically be at a similar level compared with 2018, the report said.

The report also analyzed the economies' new developments in employment and income, price and monetary policy, international trade, international direct investment, international commodities and debt and financial markets.

Xinhua