MANILA, Dec. 22 (Xinhua) -- Developing Asian economies are leading the global recovery from the worst recession since the Second World War thanks to swift government response that allowed the region to keep most of its hard-won economic gains.
Multilateral lenders have upgraded their growth forecast for the region, impressed by its resiliency amid the meltdown. In its report issued December, the Asian Development Bank raised its GDP forecast for this year to 4.5 percent, up from the September forecast of 3.9 percent.
In November, the World Bank revised its projection for real GDP growth in developing East Asia to 6.7 percent, or 1.3 percentage points higher than its April forecast.
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