MANILA, April 11 Reuters Developing Asia39;s growth this year is expected to be slightly stronger than previously forecast as healthy domestic demand in many economies offsets the propertydriven slowdown in China, the Asian Development Bank ADB said on Thursday.

The ADB nudged up its 2024 growth forecast for Developing Asia to 4.9 from 4.8 projected in December, but warned of persistent challenges such as rising geopolitical tensions, including in the Middle East, that could disrupt supply chains and reignite inflation.

The Manilabased lender39;s 2024 growth forecast was slightly weaker than the region39;s 5.0 growth in 2023. Growth for 2025 was also forecast at 4.9.

Growth in developing Asia will remain robust this year, in spite of uncertainty in the external environment, ADB Chief Economist Albert Park said in the Asian Development Outlook report.

The end of interestrate hiking cycles in most economies as well as continued recovery in goods exports from an upturn in the semiconductor cycle will support growth, Park said.

China remains a weight on the regional growth outlook as a protracted property crisis and other challenges keep the world39;s No.2 economy from mounting a strong economic revival, the ADB said.

ADB Principal Economist John Beirne, in a briefing ahead of the report39;s release, said Wednesday39;s cut by Fitch of its outlook on China39;s sovereign credit rating to negative was concerning for investor sentiment.

It can have additional problems…