ADB to hold economical statements on “Asian Development Outlook 2013: Energy Security”
Baku, April 16 (AZERTAC). The Asian Development Bank (ADB) will hold economical statements on “Asian Development Outlook 2013: Energy Security”.
ADB's Asian Development Outlook (ADO) 2013 estimates that regional economic growth in the Asia Pacific region will pick up to 6.6% in 2013 and reach 6.7% in 2014. This is a distinct improvement on 2012, when growth stood at just over 6%. Consumer prices are expected to rise by 4.0% in 2013 and 4.2% in 2014, up from 3.7% last year.
Leading regional economies are settling into a pattern of more moderate, more sustainable growth, founded on new opportunities nearer to home, including domestic consumption and intra-regional trade. Meanwhile, Asia's contributions to global imbalances—its persistent current account surpluses—are smoothly winding down. Yet, developing Asia's recovery phase remains vulnerable to shocks. Strong capital inflows could feed asset bubbles, for example.
ADO 2013 features a special chapter on Asia's energy challenges. The region needs an ample supply of clean, affordable energy to continue its rapid growth in the coming decades. To achieve energy security, developing Asia must actively contain its rising demand, aggressively explore new supply sources and technology, and progressively integrate regional energy markets and infrastructure.
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