Reflecting worsened economic prospects, growth forecasts for developing Asia are revised down relative to those in the ADO in April: from 5.2% to 4.6% for 2022, and from 5.3% to 5.2% for 2023. Risks to the region’s economic outlook remain elevated, and mainly associated with external factors. A substantial slowdown in global growth could adversely affect exports, manufacturing activity and employment prospects, and cause turbulence in financial markets.
The Asian Development Outlook analyzes economic and development issues in developing countries in Asia. This includes forecasting the inflation and gross domestic product growth rates of countries throughout the region, including the People’s Republic of China and India.