Asia Pacific faces weaker growth and higher inflation from Middle East crisis, ADB warns
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The Asian Development Bank warns that economic growth in Asia will slow due to the impact of the Middle East crisis. The region's GDP expansion is expected to moderate to 5.1% this year from 5.4% in 2025, even if oil prices stabilize.
The Asian Development Bank has released its Asian Development Outlook report, predicting slower economic growth in Asia. The region's GDP expansion is expected to slow to 5.1% this year. This is due to the impact of the Middle East crisis on industries such as manufacturing and tourism. The US and Israeli war on Iran is projected to halt developing Asia's economic upswing. The ADB report was released on Friday, highlighting the potential consequences of the crisis on the region's economy.
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