According to a report by the Asian Development Bank (ADB), economic growth in Asia and the Pacific is expected to remain solid, but there are increasing risks to the outlook. The report states that developing economies in the region are forecast to grow 4.7% this year, slightly lower than the previous projection of 4.8%. The ADB has revised its growth outlook for Southeast Asia to 4.6% this year, down from 4.7%, due to a decrease in export demand. Vietnam’s growth forecast has also been lowered from 6.5% to 5.8%. The report highlights potential risks such as weakness in China’s property sector, high global interest rates, supply disruptions, and the risk of droughts and floods. Inflation in the region is expected to be 3.6% this year, lower than the earlier projection of 4.2%.
Source link : ADB predicts 4.6% growth in Southeast Asia but warns of increasing risks
