ADB Lowers Growth Forecast for Asia-Pacific Developing Economies

By / sstv / Updated: 20:33,24-July-2022

The Asian Development Bank has lowered its 2022 economic growth forecast for developing economies in the Asia-Pacific region from 5.2% to 4.6% in a supplementary report to the 2022 Asian Development Outlook.

The report forecasts 6.5% growth for South Asia, 3.8% for East Asia, 5% for Southeast Asia, 3.8% for Central Asia and 4.7% for the Pacific this year.

The inflation in developing economies in the Asia-Pacific region is expected to reach 4.2% this year and 3.5% next year, driven by rising global fuel and food prices. However, according to the report, inflationary pressures in the Asia-Pacific region were "less than in the rest of the world."

Only 26% of Listed Companies in ASEAN have a Long-term Strategy to Deal with Climate Risk

According to the survey conducted by the Centre for Governance and Sustainability and Global Reporting Initiative, 84% of the listed companies of ASEAN have disclosed the major issues associated with climate change. Only a quarter, or 26%, have disclosed their intentions to establish a long-term strategy for dealing with climate risk. Three-quarters of the companies disclosed performance indicators related to the climate, 46% did not explain how to set goals. The survey looked at the top 100 listed companies by market capitalization in six ASEAN countries.

Foreign Direct Investment in Indonesia Surges by Nearly 40% in Q2

Indonesia's investment minister said foreign direct investment in Indonesia rose

39.7%year-on-year to 163.2 trillion rupiahs, or $10.89 billion, in the second quarter of this year, the biggest increase in the past decade. Excluding banking and oil and gas, the investment growth accelerated from 31.8% in the first quarter, largely supported by downstream developments in the mining and petrochemical sectors. Singapore, China and Japan were the biggest sources of foreign investment in Indonesia over the same period.



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