Economy News
ADB cuts Developing Asia growth view on slowing China expansion

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/