This report from ADB provides updated economic projections, revising growth forecasts for developing Asia down slightly from 4.3% to 4.2% in 2022 and from 4.9% to 4.6% in 2023.
Monetary policy tightening by central banks globally and in the region, the protracted Russian invasion of Ukraine, and recurring lockdowns in the People’s Republic of China are slowing down developing Asia’s recovery from the COVID-19 pandemic.
This report analyzes economic and development issues in developing countries in Asia and includes forecasts on the inflation and gross domestic product growth rates of countries throughout the region.
This annual flagship report from ADB provides key economic, financial, social, and environmental data as well as select indicators for the Sustainable Development Goals (SDGs).
Nothing less than a transformative approach is necessary to build a sustainable inclusive and prosperous future for the region.
Regional economies cautioned against global headwinds, including trade and supply chain disruptions, prolonged unemployment, emerging variants, higher inflation, and tighter interest rates.
The region needs to take concerted steps to mitigate challenges.
The trade-dependent economies of Southeast Asia are forecast to grow collectively by 4.9% this year and 5.2% in 2023.
Southeast Asian Countries Need to Close Digital Divide, Promote Equitable Growth amid COVID-19, Says ADB PresidentExpanding investments in digital infrastructure and ensuring equitable access to technology vital to recovery.