ADB revises slightly lower outlook for developing Asia

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PETALING JAYA: The Asian Development Bank (ADB) has revised its economic growth outlook for developing Asia down slightly to 7% this year and 5.3% next year, after renewed outbreaks of the Covid-19 led to slower growth in the third quarter.

ADB’s latest estimates, presented in a regular supplement of the Asian Development Outlook (ADO) 2021, compare with the bank’s September forecasts of 7.1% growth for 2021 and 5.4% for 2022.