Articles worth reading

Paranaque holds medical caravan

account_balanceParañaque access_time4 days ago

Sa pangunguna ni Mayor Eric L. Olivarez, at sa pakikipagtulungan ng City Health Office, isinagawa noong Huwebes ang Health and Wellness Medical Caravan sa Baclaran Elementary School Central sa Parañaque City sa pamumuno ni Dr. Himmler Cos. An...

Oil prices rebound ahead of OPEC meeting 

account_balanceMetro Manila access_time4 days ago

Oil prices rebounded on Tuesday, after losing almost 4 percent in the previous trade, as fresh supply-side uncertainties coupled with anticipated supply cuts by Organization of the Petroleum Exporting Countries (OPEC) producers overshadowed a strong ...

QC recognized by CityNet Congress SDG Awards for Trash to Cashback program

account_balanceQuezon City access_time4 days ago

Naging finalist ang programang Trash to Cashback ng Pamahalaang Lungsod Quezon sa CityNet Congress SDG Awards for Asia Pacific Cities and Municipalities na ginanap sa Kuala Lumpur. Mahigit 360 programa mula sa iba’t ibang bansa ang lumahok sa p...

Metro News

ADB reduces growth forecast for developing Asia 

account_balanceMetro News account_circleRob Filimor chat_bubble_outline0 Comments

The Asian Development Bank (ADB) lowered its economic growth forecasts for developing Asia due to the Russia-Ukraine war, aggressive monetary tightening in advanced economies, and zero coronavirus disease 2019 (Covid-19) lockdowns in China, according to a report by Philippine News Agency.

Developing Asia is projected to grow 4.3 percent this year, down from a 5.2 percent forecast in its April report.

The outlook for the bloc that includes China and India for 2023 was revised down to 4.9 percent from 5.3 percent.

Advertisement

Price pressures in developing Asia, while remaining lower than elsewhere in the world, are increasing on higher energy and food prices, the bank said.

The regional inflation forecast is raised to 4.5 percent from 3.7 percent for this year and to 4.0 percent from 3.1 percent for the next year.

The bank cited the downside risk threatening the outlook – a sharp deceleration in global growth, stronger-than-expected monetary policy tightening in advanced economies, the war in Ukraine, a deeper-than-expected deceleration in China, and negative pandemic developments.

It also cut China's growth projections in 2022 to 3.3 percent from 5 percent in its April estimate. 

The region’s largest economy is expected to grow 4.5 percent next year, down from a 4.8 percent forecast previously.


date_rangeDate Published
1 week ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Photo Courtesy of UAAP / Facebook

UST beats Adamson in UAAP women's basketball 

account_balanceMetro Manila chrome_reader_mode18 hours ago

The University of Santo Tomas (UST) still looked like the championship contender that it is despite the three-year absence after a 106-70 beatdown of Adamson in the return of the UAAP women's basketball tournament on Saturday at the Mall of Asia ...

QC recognized by CityNet Congress SDG Awards for Trash to Cashback program

account_balanceQuezon City chrome_reader_mode4 days ago

Naging finalist ang programang Trash to Cashback ng Pamahalaang Lungsod Quezon sa CityNet Congress SDG Awards for Asia Pacific Cities and Municipalities na ginanap sa Kuala Lumpur. Mahigit 360 programa mula sa iba’t ibang bansa ang lumahok sa p...

Lingig town adopts Las Piñas best practices 

account_balanceLas Piñas chrome_reader_mode4 days ago

The city government of Las Piñas extended its heartfelt appreciation to Lingig Surigao del Sur Mayor Elmer Evangelio and his officials for adopting the best practices being implemented in the city, according to a report by Manila Bulletin...

Photo Courtesy of DSWD Region XI Facebook

30 Davao centenarians to receive P200,000 cash 

account_balanceMetro Manila chrome_reader_mode4 days ago

The local government said it has validated 30 centenarians here who will receive cash incentives worth P200,000 each on Oct. 3, according to a report by Philippine News Agency. Lawyer Marlisa Gallo, City Social Welfare and Development Office (C...

Let's Stay Connected Like us on our Facebook page.
×
Click on the article to continue reading
Quezon City adopts no contact apprehension system Red Cross pushes saliva test Vaccines from COVAX to arrive in Q1 Makati Shangri-La to close doors on Feb. 1 Cities in NCR to start vaccination simultaneously Mother, girlfriend of Filipino infected with UK variant also test positive Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature