World Bank says recoveries in Asian economies losing steam

Times of India

Lean Right

World Bank says recoveries in Asian economies losing steam

Although Asian economies are expected to see growth of 5.1% this year, up from 3.5% last year, recoveries in economies excluding China will stagnate due to growing household debt and inflation pressures slow down consumer spending, dampening demand. The World Bank report also forecasts that China's economy has slowed down after the disruptions caused by the COVID-19 pandemic while other developing economies will see the worst of the pandemic reco