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Asian Development Outlook Report
December 16 , 2021
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- The Asian Development Bank (ADB) released the report recently.
- It has reduced the growth forecasts for developing Asia for the year 2021.
- This move came in line with the uncertainty that the new Omicron coronavirus variant has brought.
- The ADB now sees 2021 gross domestic product (GDP) growth of 7.0% for developing Asia, as opposed to the 7.1% forecast.
- For 2022, it forecasted a growth of 5.3%.
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