29-September-2022
Economy News
 
ADB cuts Developing Asia growth view on slowing China expansion
22-Sep-2022

The Asian Development Bank cut its economic growth forecast for China and also lowered its outlook for developing Asia amid rising interest rates, a prolonged war in Ukraine and Beijing’s Covid Zero policy. The region is seen expanding 4.3% this year, according to the bank’s Asian Development Outlook Update released Wednesday, compared with a 4.6% projection in July. Growth in China, the largest economy in Asia, is expected to be slower at 3.3% against a 4% expansion seen previously.

News Source:- https://www.financialexpress.com/economy/adb-cuts-developing-asia-growth-view-on-slowing-china-expansion/2681240/