According to the Asian Development Bank, developing Asia’s outlook remains upbeat despite global challenges. The 2023 growth forecast is revised up from Asian Development Outlook September 2023’s projection to 4.9% from 4.7%. The 2024 forecast is maintained at 4.8%.
However, growth forecasts for Southeast Asia are revised down to 4.3% for 2023 and 4.7% for 2024, mainly on weak external demand.
The forecast for inflation in Southeast Asia is maintained at 4.2% for 2023 and revised up to 3.5% from 3.3% for 2024. This is due to possible food supply disruptions from climate risks, including from El Niño.
Read this update by clicking HERE.
Add Comment