Asian Development Outlook April 2023

Asian Development Bank

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English

Asian Development Bank
04 April 2023

Development studies; Economic growth; Development economics; Urban economics; Entrepreneurship

Series: Asian Development Outlook (ADO) Series

Summary
Details

This publication highlights brighter economic prospects for Asia and the Pacific amid ongoing challenges. It forecasts growth across the region's developing economies of 4.8% this year and in 2024, up from 4.2% in 2022.

The reopening of the People's Republic of China (PRC) will boost regional economic growth through supply chain linkages and demand for goods and services. Growth in the PRC is expected to rebound to 5.0% this year from 3.0% in 2022. Healthy domestic demand in India will also support regional growth: India is forecast to grow by 6.4% in 2023. Growth in the Caucasus and Central Asia, the Pacific, and Southeast Asia will be lifted as tourism recovers. Meanwhile, headline inflation is expected to decelerate from 4.4% in 2022 to 4.2% this year and 3.3% in 2024.

However, higher debt and interest rates have magnified financial stability risks, as evidenced by recent banking sector problems in the United States and Europe. An escalation in the Russian invasion of Ukraine could cause renewed surges in commodity prices, stoking global inflation and inducing further monetary tightening. Further, climate change and global fracturing remain persistent challenges. To confront these challenges, policy makers need to strengthen policies to ensure financial stability and actively support multilateralism to deepen regional cooperation.

By: Asian Development Bank
Imprint: Asian Development Bank
Dimensions: Height: 280mm, Width: 216mm, Spine: 22mm
Weight: 989g
ISBN: 9789292700935
ISBN 10: 9292700936
Series: Asian Development Outlook (ADO) Series
Pages: 316
Publication Date: 04 April 2023
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

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Asian Development Outlook April 2023

Asian Development Bank

$110.95 $88.48

Paperback

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