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ADB Projects Solid Growth but Rising Risks for Asia and Pacific
The region's developing economies are forecast to grow 4.7% this year, a slight downward revision from a previous projection of 4.8%, according to ADB's latest Asian Development Outlook. The growth forecast for next year is maintained at 4.8%.
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Higher Rates Remain a Risk for Emerging East Asia Borrowers
Softening inflation in the past several months has allowed most central banks in the region to hold off on further interest rate hikes, and some have started lowering rates to boost economic growth. Still, elevated price pressures, a solid job market, and robust economic performance in the United States could lead to further interest rate increases by the US Federal Reserve.
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Data and statistical analysis in the Asia and Pacific region contributes to knowledge generation in ADB, helping strengthen its institutional priorities and operational effectiveness in its developing member countries.
Asian Development Outlook September 2023
Robust domestic demand is continuing to support developing Asia’s growth. The reopening of the People’s Republic of China, rebounding tourism, resilient service sectors, healthy money transfers into the region, and stable financial conditions are all helping support economic activity.
Inflation in developing Asia is forecast to decline from 4.4% last year to 3.6% in 2023 and 3.5% in 2024. Price pressures, however, remain strong and core inflation is high in the Caucasus and Central Asia and in South Asia, most notably in Pakistan.
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Key Indicators Database (KIDB)
KIDB is ADB's central statistical database for macroeconomic and social indicators from across Asia and the Pacific.
AsianBondsOnline
AsianBondsOnline is a one-stop source of information on bond markets in emerging East Asia.
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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.
