Asia Pacific faces weaker growth, higher inflation from Middle East crisis: ADB #CNA

Asia Pacific faces weaker growth, higher inflation from Middle East crisis: ADB
Growth in developing Asia and the Pacific is expected to slow this year as the conflict in the Middle East disrupts trade and energy markets, the Asian Development Bank (ADB) said on Friday (Apr 10), with the extent of the slowdown dependent on how long the crisis persists. Speaking to CNA’s Elizabeth Neo on Asia First, the bank’s chief economist Albert Park says a prolonged conflict would deepen the economic shock, cutting growth further and driving oil prices significantly higher. He also flags rising risks for energy-import dependent economies, including potential balance of payments pressures.

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