Asian economies could see strong growth in economic activity as early as next year, as soon as the rest of the world emerges from recession, said International Monetary Fund (IMF) chief Dominique Strauss-Kahn on Tuesday.
"As soon as the global economy gets back on its feet, a rapid recovery is possible," said Strauss-Kahn, forecasting growth for Asian economies of more than 5.0 percent in 2010, which is nearly double the expected growth for this year. Asian countries cannot begin to record a recovery until the rest of the world emerges from the current major crisis, given that they heavily rely on exports, explained the IMF chief.
Asia is likely to record growth in economic activity of 2.7 percent in 2009, with developing countries in the region expected to see growth of 5.5 percent, Strauss-Kahn said in an online briefing from Washington."However, uncertainties are high, so a worse outcome cannot be ruled out," he said. At the moment recovery begins in the economies of Europe and the United States, some Asian economies could recover very quickly," he added. "Some Asian economies are really dynamic. They have numerous resources and very strong foundations." (H)
