Asia Set for Faster Growth, Easing Inflation in 2023, ADB Says
- Region’s developing economies to see improvement over 2022
- Asian Development Bank sees risk of higher price growth on oil
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Asia’s developing economies led by China are on course for faster growth and moderating inflation this year and next, even as advanced economies are contributing to a darker global outlook, the Asian Development Bank said.
The group’s 46 member nations across the continent are set to grow at 4.8% in 2023 and 2024, faster than the 4.2% last year, the ADB said in an update to its regional forecasts released Tuesday. Inflation should moderate to 4.2% this year in a slight easing from 4.4% in 2022.