Asia’s GDP growth to stay strong in 2022 at 5.2%: Asian Development Bank

The Asian Development Bank expects Asia’s gross domestic product to stay strong at 5.2 percent in 2022 and 5.3 percent in 2023, according to its forecast. 

Despite the spread of omicron, developing Asia’s economies remained relatively open in early 2022, with higher vaccination rates resulting in increased immunity.

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This has enabled governments to impose milder mobility restrictions and other containment measures, its chief economist Albert Park, said.

In 2021, growth in Asia-Pacific saw a recovery, achieving 6.9 percent, which is driven by an increase in domestic demand and strong export performance. 

Source: Arab News