MANILA: Growth in developing Asia will likely be slower this year than previously thought, the Asian Development Bank (ADB) said on Wednesday, as the war in Ukraine is expected to derail economic recovery in the region still reeling from the Covid-19 pandemic.
The bloc’s combined economy, which includes China and India, is projected to expand 5.2% this year, the ADB said in a report, down slightly from 5.3% forecast in December, and sharply lower than the previous year’s 6.9% growth.
For 2023, the region is forecast to grow 5.3%. “The Russian invasion of Ukraine has severely disrupted the outlook for developing…
