NEWS & EVENTS

On April 17th, ADB Chief Economist Albert Park visited the Reischauer Center to discuss the the recently-released Asian Development Outlook April 2023.

ADB forecasts faster growth for developing economies in Asia and the Pacific this year, as the continued easing of pandemic restrictions boosts consumption, tourism, and investment. Excluding the PRC, developing Asia is expected to grow 4.6% this year and 5.1% in 2024. The region’s inflation, meanwhile, is forecast to moderate gradually toward pre-pandemic levels. Risks to the outlook persist, however, from the continuing Russian invasion of Ukraine to the need for greener trade and investment to tackle climate change and ensure sustainable growth.