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The Latest Breaking News from Albert Park

Asia growth improves but ADB warns of persistent headwinds

Asian economic growth is projected at 4.9% for 2026, a slight improvement from earlier forecasts. Lingering Middle East conflict impacts continue to weigh on supply chains and production costs. Inflation is expected to decrease to 4.3% in 2026 as oil prices stabilise.

The Economic Times

FTAs, lower import duties, better business environment to boost net FDI flows: ADB chief economist

Foreign investment in India needs a boost. ADB Chief Economist Albert Park suggests free trade agreements and lower import tariffs. Strengthening manufacturing infrastructure and urban planning will attract more capital. Higher oil prices are expected to persist, impacting India's GDP growth and inflation. Reforms are ongoing, and continued momentum is…

The Economic Times

Crude oil prices likely to stay higher for longer: ADB Chief Economist

Crude oil prices are set to remain high due to the Middle East crisis. This will affect India's economy, lowering GDP growth in FY27. Inflation is also expected to rise significantly. Weather disruptions and fertilizer costs could further impact food prices. India's reliance on imported oil makes it particularly vulnerable…

The Economic Times

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ADB retains India's growth forecast at 6.4% for current fiscal

ADB retains India's growth forecast at 6.4% for FY22-23 and 6.7% for FY23-24. Inflation expected to decline to pre-pandemic levels. Domestic demand and services driving growth, while industrial activity and exports remain weak. Global outlook for next year has worsened.

The Hindu

ADB warns China it risks wasting money on state-led growth

China needs to level the playing field between private and state owned firms, the Asian Development Bank's chief economist said on Thursday, adding that the world's second-largest economy risks "wasting a tonne of money" with a state-led growth model.

Reuters

ADB gauges 2023 growth rate at 3.3%

Thailand's economic growth is projected at 3.3% this year and 3.7% in 2024 as a recovery in tourism and private consumption help offset a slowdown in exports, according to the Asian Development Bank (ADB).

Bangkok Post

ADB forecasts China, India to power strong growth in '23

The Asian Development Bank says China's recovery from the pandemic and strong demand in India will drive strong economic growth in Asia this year

The Independent UK

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

Manila-based development bank lowers the growth forecast for 2022 from 5.2 percent to 4.3 percent.

Al Jazeera

ADB cuts India GDP forecast for FY23 to 7.2% on Covid, war impact amid inflationary pressure

NEW DELHI: Asian Development Bank (ADB) on Thursday trimmed India's economic growth forecast for current fiscal year to 7.2 per cent from 7.5 per cent as pandemic and war impact is weighing down alongside inflationary pressures.

The Times of India

Challenges for Asean

Over two years after the coronavirus emerged, countries across Asia are slowly beginning to recover. In Southeast Asia, economic growth is projected to pick up to 5.1% this year, from 3.2% in 2021. With 400 million people, or 59% of the population, fully vaccinated, many economies are well on the…

Bangkok Post

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