Developing Asia is expected grow at 5.2% in 2022 and 5.3% in 2023 on continued recovery in domestic demand and solid exports, according to the Asian Development Outlook (ADO) 2022: Mobilizing Taxes for Development, the flagship publication of the Asian Development Bank.
However, Russia's invasion of Ukraine has added uncertainty to the outlook as the world continues to contain the coronavirus disease (COVID-19) pandemic.
The region rebounded by 6.9% in 2021 although the recovery is still largely incomplete in many of the countries.
Risks include escalation of Russia's invasion of Ukraine, financial instability triggered by the Fed’s aggressive tightening, emergence of more lethal COVID-19 variants, and disruptions associated with the People's Republic of China's current outbreaks.
Contents
- ADO 2022—Highlights
- Recovery continues amid global headwinds
- Mobilizing taxes for development
- Economic trends and prospects in developing Asia
- Statistical appendix
Published April 2022.
Source: Asian Development Bank
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