Emerging economies likely to grow 4.8% this year

Major emerging economies are expected to post economic growth of around 4.8 percent this year despite downward pressure, the Boao Forum for Asia said in a report on Tuesday.

That level of growth would be slightly lower than the growth seen in 2014, which stood at 4.9 percent, according to the International Monetary Fund.

The Development of Emerging Economies Annual Report, co-authored by the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, said the major emerging economies refer to Argentina, Brazil, China, India, Indonesia, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa and Turkey, all from the G20.