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ADB Trims Developing Asia 2021 Growth Outlook to 7.1% Amid Continued COVID-19 Concerns

MANILA: 22 Sep.— Asian Development Bank lowered its 2021 economic growth outlook for developing Asia, amid continuing concerns over the coronavirus disease (COVID-19) pandemic.However, ADB said recovery was underway in "developing Asia", referring to the bank's 46 members, including China and India, but growth was revised down to 7.2% from 7.3% projected in its Asian Development Outlook (ADO) report released in April.The bloc's combined economy was projected to expand 5.4% next year, compared with the April forecast of 5.3%."Asia and the Pacific's recovery from the COVID-19 pandemic continues, although the path remains precarious amid renewed outbreaks, new virus variants, and an uneven vaccine rollout," ADB Chief Economist Yasuyuki Sawa...

September 22, 2021 at 9:33 am | Economic Affairs