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| Developing Asia, which groups together 46 economies in the Asia-Pacific, is forecast to grow 4.8% in 2023, the ADB said in its Asian Development Outlook report, more than its previous estimate of 4.6% in December, and following 4.2% growth in 2022. |
| China’s economy is on track to grow by 5 percent this year, the ABD said. |
| “Prospects for economies in Asia and the Pacific are brighter and they’re poised for a strong recovery as we return to normalization following the pandemic,” ADB Chief Economist Albert Park said. |
| “People are starting to travel again for leisure and work, and economic activities are gathering pace. Because many challenges remain, governments in the region need to stay focused on policies that support stronger cooperation and integration to promote trade, investment, productivity and resilience.” |
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