Economic growth in the Pacific is expected to remain at 2.9% in 2017 followed by 3.3% in 2018, according to the ADB's Asian Development Outlook 2017 supplement.

Papua New Guinea is contouring with its gradual recovery due to a rebounding of its mining and agriculture industries.

Stronger tourism prospects are also expected to drive growth further in the Pacific subregion, particularly in Fiji and Palau.

Consumer price inflation in the Pacific region, is projected to be lower from the previous estimate on the back of steady international oil and food prices, despite increasing demand due to enough supplies and favorable weather conditions.

Price inflation is now expected to drop to 2.6% in 2017, followed by 3.0% in 2018, compared to the original projections of 3.0% and 3.2%, respectively.

Meanwhile, in the Asian region, the economy will grow from 5.7% to 5.9% in 2017, followed by 5.7% to 5.8% for 2018.

The uptick in the 2018 rate reflects a cautious view on the sustainability of a drive to increase export from the region.