The Asian Development Bank (ADB) has slightly raised its economic growth forecast for developing Asia and the Pacific this year to 5.0% from a previous projection of 4.9%, as rising regional exports complement resilient domestic demand. The growth outlook for next year is maintained at 4.9%. Inflation is forecast to slow to 2.9% this year […]
Asian Development Bank slightly raises its 2023 forecast for economies of Caucasus and Central Asia
The Asian Development Bank (ADB) has slightly raised its economic forecast for economies in Caucasus and Central Asia 2023. The upward revision reflects an improved outlook for Kazakhstan and Tajikistan for 2023. The growth forecasts for the Caucasus and Central Asia are revised up to 4.8% for 2023 from September’s 4.6% projection and down to […]
Gains in hydrocarbon production and exports spurred Turkmenistan’s economic recovery in 2022 – ADB says
Gains in hydrocarbon production and exports spurred economic recovery of Turkmenistan in 2022. Inflation remained in double digits, and the current account registered a large surplus. Growth will increase slightly in 2023 and moderate in 2024, says ADB’s flagship report’s April release – Asian Development Outlook (ADO). Here are some excerpts from Asian Development Outlook April […]
ADB Forecasts 4.8% Growth for Asia and Pacific in 2023 and 2024
The Asian Development Bank (ADB) forecasts faster growth for developing economies in Asia and the Pacific this year, as the continued easing of pandemic restrictions boosts consumption, tourism, and investment. The People’s Republic of China’s (PRC) reopening—as it pivots away from its zero-COVID strategy—is the main factor brightening the region’s growth prospects. Economies in Asia […]
ADB upgrades upward forecast for Central Asia and Caucasus
The subregional growth projection for the Caucasus and Central Asia in 2022 is raised from 3.9% in the September Update of Asian Development Outlook (ADO) 2022 to 4.8% for 2022, while the projection for 2023 remains unchanged at 4.2%, ADB said in a recent supplement to the ADO 2022. The upward adjustment for 2022 reflects […]