ADB lowers developing Asia's growth forecast for 2022 to 4.6 pct

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ADB lowers developing Asia's growth forecast for 2022 to 4.6 pct

STORY: ADB lowers developing Asia's growth forecast for 2022 to 4.6 pct DATELINE: July 21, 2022 LENGTH: 00:02:33 LOCATION: Manila CATEGORY: ECONOMY SHOTLIST: 1. various of ADB headquarters 2. various of street views of Manila STORYLINE: The Asian Development Bank (ADB) lowered developing Asia's growth forecast for 2022 on Wednesday to 4.6 percent from 5.2 percent, reflecting worsened economic prospects because of geopolitical tensions, more aggressive monetary tightening in advanced economies, and the COVID-19 pandemic. In its supplement to the Asian Development Outlook 2022, the bank's flagship annual economic publication, the ADB also slashed its 2023 growth forecast for developing Asia to 5.2 percent from 5.3 percent. The Manila-based bank slashed its 2022 growth forecast for East Asia from 4.7 percent to 3.8 percent; South Asia's growth forecast is lowered from 7 percent to 6.5 percent for 2022 and from 7.4 percent to 7.1 percent for 2023. The 2022 forecast for Southeast Asia is marginally

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