business

September 22, 2022

ADB cuts Asia growth outlook again as global risks rise

MANILA: The Asian Development Bank has again lowered its growth forecasts for the region, as global monetary tightening, the protracted war in Ukraine and the slowdown in China keep challenging the economic recovery.The Manila-based multilateral bank on Wednesday cut its 2022 and 2023 economic growth forecasts for developing Asia, a region comprising 46 of its members, including China, South Korea and India. It now expects growth of 4.3 percent this year, down from the 5.2 percent it projected...