Wahyu Dwi Anggoro
“Asia and the Pacific continues to recover from the pandemic at a steady pace,” said ADB Chief Economist Albert Park in a press release on Wednesday.
“Domestic demand and services activity are driving growth, while many economies are also benefiting from a strong recovery in tourism. However, industrial activity and exports remain weak, and the outlook for global growth and demand next year has worsened," Park added.
Inflation is expected to continue falling, approaching pre-pandemic levels as fuel and food prices decline. Inflation in developing Asia is forecast at 3.6% this year, compared with an April forecast of 4.2%.
The inflation outlook for 2024, meanwhile, is raised to 3.4% from an earlier estimate of 3.3%. (WHY)
