Manila, Nov 14 (EFE) .- The emerging countries of Asia, including China, India and the economies of Southeast Asia, will grow 6.4% this year, above the 1.1% expected in Latin America and 3.4% in Africa, the Organization for Economic Cooperation and Development (OECD) said today.
This was indicated by the agency in the report "Economic Forecast for the Southeast Asia, China and India: promoting growth through digitization "presented today in Manila as part of the summit of the Association of Southeast Asian Nations (ASEAN).
"In 2017, growth in China and ASEAN is expected to continue due to renewed and robust domestic consumption, while growth in India is expected to decelerate slightly due to taxation and monetary reforms ", says Mario Pezzini, OECD special advisor, in the document.
The rapid normalization of the policy monetary policy in developed countries, the growth of private sector debt and expansive trade restrictions are the main risks to growth, specifies the report.
The OECD forecasts that the Chinese economy will grow by 6.8% in 2017, below the average of 7.9% registered between 2011 and 2015, while in the period 2018-2022 It will slow down to 6.2%.
The agency attributes the Chinese growth moderation to problems of capacity and "financial market vulnerability", while private consumption, investments and exports will continue to rise.
India's gross domestic product (GDP) will expand by 6.6% this year, compared to 7.1% in 2016, while the projection for 2018-2022 is 7.3%.
The report positively values liberalization in some Indian industries, while warning that "bad assets" in banks may limit the demand.
In the case of ASEAN, the OECD forecasts that its GDP will increase by 5.1% in 2017 and 5.2% in the period 2018-2022.
the bloc this year, followed by Cambodia (7.1%), Laos (6.9%), the Philippines (6.6%), Vietnam (6.3%), Malaysia (5.5%), Indonesia (5 zero.
ASEAN, which is celebrating its 50th anniversary this year, must still make further progress in eliminating trade taxes, digitizing its economy, liberalizing services and of the movement of professionals to move towards their effective integration, according to the OECD.
The multilateral organization highlights the importance of the digitalization of the economy Asian, with the emergence of software development in Vietnam, the internet service sector in the Philippines or digital payment in China.
However, it points out that internet, prerequisite for digitization, it has an unequal presence in the region, from 81% in Singapore to 22% in Laos.
"The promotion of inclusive growth through digitization it requires reforms in trade and investment policies, the development of infrastructures and facing the challenges of the labor market, "explains the report.