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Asian Economies in 2022

Developing Asia's economy is forecasted to grow by 5.2 percent in 2022 and 5.3 percent in 2023, according to the latest Asian Development Bank (ADB) report. The increase in domestic demand and robust exports should boost gross domestic product (GDP) in the region.

Developing Asia's economy rebounded by 6.9 percent in 2021, but the recovery, according to the report, is still largely incomplete in most parts of the region.

Inflation is expected to rise to 3.7 percent in 2022 and 3.1 percent in 2023 as the economic recovery continues and energy, and commodity prices remain elevated.

The report indicates that recovery varies across the sub-regions. South Asia's growth will lead the region with 7.0 percent in 2022, followed by Southeast Asia with 4.9 percent and East Asia with 4.7 percent.

China, the region’s largest economy, is forecast to grow by 5.0% in 2022 and 4.8% in 2023 amid continued export strength, while India is expected to grow by 7.5% in 2022.

According to Word Bank, overall economic growth in developing East Asia and Pacific countries is projected to reach 5 percent in 2022, varying from the latest expectations in October.


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