The Asian Development Bank (ADB) has predicted that economic growth in Asian countries will decrease.

"APA-Economics" informs that this was reported in the July issue of ADB's "Regional Economic Outlook" report.

According to the information, the Bank has reduced the economic growth forecast for the developing economies of Asia for 2022 from 5.2% to 4.6% and for 2023 from 5.3% to 5.2%.

It was reported that the deterioration of economic prospects due to the restrictions imposed in China related to COVID-19, tightening in advanced economies and the consequences of Russia's prolonged occupation of Ukraine, more aggressive monetary policy, forced the ADB to revise its forecast on economic growth.

The bank cut its inflation forecast for emerging Asian economies to 4.2% in 2022 from 3.7% and 3.5% in 2023 from 3.1% amid rising fuel and food prices. increased again.

"Nevertheless, inflationary pressures in Asian countries are lower than in other regions of the world," the report said.