News Snapshot:
The Asian Development Bank (ADB) on Wednesday trimmed its economic growth forecast for Asia and the Pacific amid lingering concerns over the coronavirus pandemic. In its annual Asian Development Outlook report, the Manila-based bank said economies in developing Asia were now projected to grow 7.1 per cent, down from the forecast of 7.3 per cent in April. The growth outlook for 2022 was raised to 5.4 per cent from 5.3 per cent, it added. “Developing Asia remains vulnerable to the Covid-19 pandemic, as new variants spark outbreaks, leading to renewed restrictions on mobility in some economies,” said ADB acting chief...
