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Al Jazeera
Al Jazeera
Business

‘Risks loom large’: Asian Development Bank cuts growth forecast

Asian Development Bank Asia Albert Park Manila
The Asian Development Bank has slashed its economic growth forecast for Asia’s developing economies to 4.3 percent [File: Cheryl Ravelo /Reuters]

The Asian Development Bank (ADB) has slashed its economic growth forecast for Asia’s developing economies, pointing to challenges including China’s “zero COVID” lockdowns, the war in Ukraine and rising interest rates.

The Manila-based development bank said on Wednesday it had lowered its growth forecast for 2022 to 4.3 percent, down sharply from 5.2 percent in April.

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