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Boost demand, cut inequality to develop by 2050: ADB chief
Mint Bangalore
|May 05, 2025
Nations must also safeguard stability and sustain investment flows, ADB's Kanda said
Developing countries like India can close the gap with advanced economies by continuing reforms, boosting domestic demand, enhancing competitiveness and improving human capital, Asian Development Bank (ADB) president Masato Kanda said on Sunday.
Speaking to reporters at the beginning of ADB's annual board of governors meeting in Milan, Kanda said that while private sector growth will add jobs and facilitate innovation, governments have to continue reforms and boost domestic demand by reducing income inequality while opening up their economies.
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