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On December 14, 2021, the Asian Development Bank released its Asian Development Outlook Report and reduced its growth forecasts for developing Asia for year 2021.
ADB on China’s growth
ADB has projected China’s growth as 8.0% in 2021 and will slow down to 5.3% in 2022. China’s economy, which staged an impressive rebound from last year’s pandemic slump, has lost momentum in recent months as it grapples with surging prices, a slowing manufacturing sector, debt problems in the property market and persistent COVID-19 outbreaks.
ADB on India’s growth
The ADB has reduced its 2021 growth forecast to 9.7% for India as opposed to the 10.0% estimate of September 2021. However. 2022 growth forecast has been unchanged.
By: Brijesh Kumar ProfileResourcesReport error
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