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Asian Development Outlook (ADO) 2022 Supplement: Recovery Faces Diverse Challenges

Asian Development Outlook (ADO) 2022 Supplement: Recovery Faces Diverse Challenges

ADB has lowered its growth forecasts for developing Asia from 5.2% to 4.6% for 2022 and from 5.3% to 5.2% for 2023. The downward revisions to the forecasts made in April reflect worsened economic prospects due to slower expansion in the People’s Republic of China (PRC), more aggressive monetary tightening in advanced economies, and fallout from the continued Russian invasion of Ukraine.