ADB Upgrades Asia-Pacific Growth Outlook Despite Global Headwinds
• Pakistan's economic recovery constrained by moderate confidence and high inflation eroding purchasing power • Developing Asia continues growing robustly despite challenging global environment • ADB raises 2023 growth forecast for developing Asia-Pacific region to 4.9% • Risks include elevated global interest rates and potential climate events like El Niño • ADB improves 2023 growth forecast for South Asia to 5.7% mainly due to higher India growth