The Asian Development Bank (ADB) lowered anew its forecasts for economic growth in developing Asia and the Pacific, cutting it to 4.3% in 2022 and 4.9% in 2023 amid mounting challenges. The growth forecast for next year has been lowered to 4.9% from 5.3%, according to an update of its flagship report.
The report, which analyzes economic and development issues in developing countries in Asia, including forecasts about the inflation and gross domestic product growth rates of countries throughout the region, cited challenges including increased monetary tightening by central banks, fallout from the protracted Russian invasion of Ukraine, and recurrent COVID-19 lockdowns in the People’s Republic of China (PRC).
The report’s theme chapter looks at the role of entrepreneurship in achieving inclusive growth, and how governments in the region can create a more enabling environment for digital entrepreneurs.
Contents
- Par1 1: Softening growth amid a darkened global outlook
- Part 2: Entrepreneurship in the digital age
- Part 3: Economic trends and prospects in developing Asia 109
Published September 2022.
Source: Asian Development Bank
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