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Asian Development Outlook - July 2023
ADB
2023.07.20
ADB is maintaining its growth outlook for developing economies in Asia and the Pacific at 4.8% this year, as robust domestic demand continues to support the region’s recovery. The growth forecast for next year is marginally revised down to 4.7% from a 4.8% estimate in April, as demand for the region’s exports of electronics and other manufactured goods is slowing.
Inflation in developing Asia is forecast at 3.6% this year, compared with an April forecast of 4.2%. The inflation outlook for 2024, meanwhile, is raised to 3.4% from an earlier estimate of 3.3%.