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Asian Development Outlook (ADO) 2022 Update (September 2022)

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Key Messages

Growth forecasts are revised down from the projections made in April, to 4.3% for this year and to 4.9% for next year.
Inflation in developing Asia, while remaining lower than elsewhere in the world, is increasing amid higher energy and food prices. The regional inflation forecast is raised to 4.5% for this year and 4.0% for next year.

Several downside risks loom large. A sharp deceleration in global growth, stronger-than-expected monetary policy tightening in advanced economies, the Russian invasion of Ukraine escalating, a deeper-than-expected deceleration in the People’s Republic of China (PRC), and negative pandemic developments could all dent developing Asia’s growth.​ The theme chapter explores how digital entrepreneurship helped keep economies afloat during COVID-19 and how it can become a major engine of growth in the post-pandemic world.​

Asian Development Bank: © Asian Development Bank