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Al Jazeera
Al Jazeera
Business

APEC slashes growth forecasts on inflation, Ukraine risks

APEC Inflation AsiaPacific Economic Cooperation
Asia-Pacific Economic Cooperation has slashed its economic growth forecast for the region [File: Yuriko Nakao/Reuters]

Asia-Pacific Economic Cooperation (APEC) has slashed its economic growth forecast for the region, citing risks including soaring inflation, the Ukraine war and new mutations of COVID-19.

The APEC region is forecast to expand 2.5 percent in 2022 and 2.6 percent in 2023, according to the latest outlook released by the APEC Policy Support Unit on Friday.

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