CLICK TO ENLARGETHE Asian Development Bank (ADB) raised its 2022 economic growth estimates for developing Asia but trimmed them for this year on lingering concerns over the Covid-19 pandemic. This year it expects economic growth to be lower at 7.1% from its April projection of 7.3%. It says while growth forecasts are raised for East Asia and Central Asia, downward revisions for the rest of the region weigh on the outlook. The recovery in global demand for exports from developing Asia, supported by robust growth in advanced economies, will continue to benefit the region’s export-oriented economies. However, sustainable food production and agricultural systems that are resilient to climate change will be crucial for developing Asia.
