Growth forecasts for developing Asia’s economies are revised downward to 4.3% in 2022 and 4.9% in 2023 amid renewed COVID-19 lockdowns, the continued Russian invasion of Ukraine, and rising inflation. Inflation for the region is forecast at 4.5% in 2022 and 4.0% in 2023.


Developing Asia and the Pacific continues to recover even as challenges mount

Economies are relaxing COVID restrictions and reopening with the notable exception of the People’s Republic of China

The continued Russian invasion of Ukraine will keep commodity prices elevated

Aggressive monetary tightening in the U.S. is weakening global demand

Tourism is rebounding in economies that have reopened early while remittances remain healthy

The region’s economy will moderate

GDP Growth Outlook for 2022 and 2023 | Developing Asia

Growth in the People’s Republic of China will soften

People’s Republic of China Growth Forecast 

while India’s recovery will remain solid

India Growth Forecast

Inflation in Developing Asia

Subregional inflation

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