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WATCH: 26 SEP, 9:00AM - 10:00AM (GMT +8)

From Pandemic to Recovery: Ideas for Change

ADB President Masatsugu Asakawa will kick off the 2022 Annual Meeting, the bank's 55th, with a frank conversation with international broadcast journalist Zeinab Badawi about ADB's commitment to tackling climate change, Asia's energy transition, and multiple other challenges currently facing Asia and the Pacific.

WATCH: 26 SEP, 10:00AM - 11:30AM (GMT +8)

Women in the Green Economy

WATCH: 29 SEP, 9:00AM - 10:00AM (GMT +8)

CNBC Debate: Managing Asia's Energy Transition

WATCH: 26 SEP, 4:30PM - 5:30PM (GMT+8)

Financing the SDGs through Sustainable Revenue Streams

ADB Lowers Developing Asia Growth Outlook as Global Risks Mount

ADB again lowered its forecasts for economic growth in developing Asia and the Pacific, amid mounting challenges that include 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 region’s economy is expected to grow 4.3% this year, compared with the ADB projection in April of a 5.2% expansion. The growth forecast for next year has been lowered to 4.9% from 5.3%, while the region’s inflation forecast has been raised. Excluding the PRC, the rest of developing Asia is projected to grow by 5.3% in both 2022 and 2023.

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Inflation and Food and Energy Prices

Inflation in developing Asia is on the rise. The average inflation rate in the region increased to 5.3% in July from 3.0% in January. Even so, price pressures in developing Asia remain more moderate than in advanced economies, including the US and the euro area, and most emerging economies. But the continued rise in inflation this year has pushed the regional rate 2.5 percentage points above the 2015–2019 prepandemic average, which suggests an increasing deviation from more normal price dynamics. The regional aggregate masks significant differences across subregions. In July, the Caucasus and Central Asia had the highest inflation rate, at 13.5%, followed by South Asia at 10.0%. Inflation in East Asia was just 3.0%.

Rising food and energy prices contributed to inflation increasing throughout the region. Global food and energy prices have been declining since April, but this has yet to translate into lower domestic prices.

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ADB focuses on sectors and themes that align with the commitment to eradicate poverty. The Bank’s work also spans across several development goals and cross-cutting initiatives.

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