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World Bank cuts Asia’s 2022 growth outlook on Ukraine war

World Bank Ukraine Asia Carlos Casanova Tim Harcourt China East Asia Al Jazeera Washington D.C.

The World Bank has cut its growth forecast for East Asia and the Pacific for 2022 [File: Al Drago/Bloomberg]

The World Bank has downgraded its economic outlook for East Asia and the Pacific, pointing to war in Ukraine, rising inflation in the United States, and slowing growth in China as risks to the region’s growth.

The region is expected to see growth of five percent in 2022, down from a forecast of 5.4 percent in October, the Washington-based lender said in a report released on Tuesday.

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