‘Risks loom large’: Asian Development Bank cuts growth forecast

Manila-based development bank lowers the growth forecast for 2022 from 5.2 percent to 4.3 percent.

The Asian Development Bank (ADB) has slashed its economic growth forecast for Asia’s developing economies, pointing to challenges including China’s “zero COVID” lockdowns, the war in Ukraine and rising interest rates.

The Manila-based development bank said on Wednesday it had lowered its growth forecast for 2022 to 4.3 percent, down sharply from 5.2 percent in April.

Excluding China, the…