ADB warns of ‘intensified’ risks for developing Asia

Gross domestic product is forecast to expand by 4.7% this year, slightly lower than its April estimate of 4.8%, ADB said, as it trimmed its regional growth expectations. — AFP

MANILA: Developing Asia faces “intensified” risks from China’s troubled property sector and high interest rates around the world, the Asian Development Bank (ADB) says.

Gross domestic product is forecast to expand by 4.7% this year, slightly lower than its April estimate of 4.8%, the Manila-based lender said yesterday, as it trimmed its regional growth expectations.