ADB trims developing Asia's growth outlook to 7.1% amid COVID-19

Economy Society

The Asian Development Bank on Wednesday trimmed further its growth prospects this year for developing and newly industrialized Asian economies to 7.1 percent as lingering concerns over the coronavirus pandemic persist in the region. The Manila-based multilateral bank adjusted once more its 7.2 percent growth forecast in July, which was also a slight revision from a projection of 7.3 percent three months prior. On the other hand, the growth forecast for 2022 remains the same at 5.4 percent, which was also earlier revised from a slightly lower expectation of 5.3 percent in April. "The main risks...

Kyodo News

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