ADB lowers growth outlook for developing Asia as Covid weighs

ADB forecasts growth of 7.1% this year, according to an update of its flagship economic publication, Asian Development Outlook (ADO) 2021. That compares with a projection of 7.3% in April.

KUALA LUMPUR: The Asian Development Bank (ADB) lowered its 2021 economic growth outlook for developing Asia, amid continuing concerns over the coronavirus disease (Covid-19) pandemic.

In a statement on Wednesday, ADB forecasts growth of 7.1% this year, according to an update of its flagship economic publication, Asian Development Outlook (ADO) 2021. That compares with a projection of 7.3% in April.