{"id":139433,"date":"2021-09-22T03:40:41","date_gmt":"2021-09-22T03:40:41","guid":{"rendered":"https:\/\/precoinnews.com\/?p=139433"},"modified":"2021-09-22T03:40:41","modified_gmt":"2021-09-22T03:40:41","slug":"delta-variant-clouds-developing-asias-growth-outlook-adb","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/delta-variant-clouds-developing-asias-growth-outlook-adb\/","title":{"rendered":"Delta variant clouds developing Asia&#x27;s growth outlook &#8211; ADB"},"content":{"rendered":"<p>MANILA (Reuters) &#8211; Developing Asia\u2019s economic rebound this year could be dented by the rapid spread of the Delta coronavirus variant, the Asian Development Bank said on Wednesday, as it urged economies to adapt to a \u2018new normal\u2019 after COVID-19 to underpin recovery.<\/p><figcaption>FILE PHOTO: Employees work on assembling automated guided vehicles (AGV) at a Lonyu Robot Co factory in Tianjin, China, September 7, 2021. REUTERS\/Tingshu Wang<\/figcaption><p>Growth in developing Asia, which groups 46 countries in the Asia-Pacific, is projected to reach 7.1% this year, the ADB said in an update to its Asia Development Outlook report, down from its 7.2% forecast in July and 7.3% in April.<\/p>\n<p>While seeing a slight downgrade, this year\u2019s growth estimate is a turnaround from the region\u2019s 0.1% contraction last year. For 2022, the ADB kept its 5.4% growth forecast for developing Asia.<\/p>\n<p>The growth projections are not without risks, the ADB said, given the threats posed by the emergence of new coronavirus variants, slower-than-expected vaccine rollouts, and waning vaccine effectiveness.<\/p>\n<p>The region has immunised close to 30% of its population as of the end of August, the ADB said, lagging behind advanced economies like the United States and in the European Union, which have fully vaccinated more than half of their population.<\/p>\n<p>\u201cDeveloping Asia remains vulnerable to the COVID-19 pandemic, as new variants spark outbreaks, leading to renewed restrictions on mobility in some economies,\u201d ADB Acting Chief Economist Joseph Zveglich said in a statement.<\/p>\n<p>The ADB said the recovery path within the region remained uneven given countries\u2019 varying degrees of progress in tackling the pandemic.<\/p>\n<p>China is on track to grow 8.1% this year, with the pace of expansion projected to slow to 5.5% next year, the ADB said.<\/p>\n<p>Abdul Abiad, Director\u202fof ADB\u2019s \u202fMacroeconomic Research Division, noted in a media briefing that China\u2019s property developer Evergrande\u2019s debt problem, which have rattled global markets, \u201cwarrants careful monitoring.\u201d<\/p>\n<p>\u201cHousing is an important component of the Chinese economy. If the property sector is impacted that could have knocked on effects on the broader the Chinese economy,\u201d Abiad said.<\/p>\n<p>But should it default, Abiad said the capital buffers of China\u2019s banking system \u201care strong enough to absorb a shock even of Evergrande\u2019s size\u201d.<\/p>\n<p>The ADB also maintained its growth outlook for India at 10.0% this year and 7.5% next year.<\/p>\n<p>Fresh outbreaks of the Delta variant took a toll on Southeast Asian economies, with the region now projected to grow an even slower pace of 3.1% this year from ADB\u2019s July estimate of 4.0%, with strife-torn Myanmar suffering a deeper 18.4% slump.<\/p>\n<p>Policy measures should not only focus on containment and vaccination, but reorienting economic sectors to adapt to a \u2018new normal\u2019 once the pandemic subsides to kickstart the recovery, Zveglich said.<\/p>\n<h2>GDP GROWTH<\/h2>\n<h2>2020 2021 2021 2021 2022 2022 2022<\/h2>\n<h2>APR JULY SEPT APR JULY SEPT<\/h2>\n<p>Central -1.9 3.4 3.6 4.1 4.0 4.0 4.2<\/p>\n<p>Asia<\/p>\n<p>East Asia 1.8 7.4 7.5 7.6 5.1 5.1 5.1<\/p>\n<p>China 2.3 8.1 8.1 8.1 5.5 5.5 5.5<\/p>\n<p>South Asia -5.6 9.5 8.9 8.8 6.6 7.0 7.0<\/p>\n<p>India -7.3 11.0 10.0 10.0 7.0 7.5 7.5<\/p>\n<p>SEast Asia -4.0 4.4 4.0 3.1 5.1 5.2 5.0<\/p>\n<p>Indonesia -2.1 4.5 4.1 3.5 5.0 5.0 4.8<\/p>\n<p>Malaysia -5.6 6.0 5.5 4.7 5.7 5.7 6.1<\/p>\n<p>Myanmar 3.3 -9.8 n\/a -18.4 n\/a n\/a n\/a<\/p>\n<p>Philippines -9.6 4.5 4.5 4.5 5.5 5.5 5.5<\/p>\n<p>Singapore -5.4 6.0 6.3 6.5 4.1 4.1 4.1<\/p>\n<p>Thailand -6.1 3.0 2.0 0.8 4.5 4.9 3.9<\/p>\n<p>Vietnam 2.9 6.7 5.8 3.8 7.0 7.0 6.5<\/p>\n<p>The Pacific -5.3 1.4 0.3 -0.6 3.8 4.0 4.8<\/p>\n<p>Developing -0.1 7.3 7.2 7.1 5.3 5.4 5.4<\/p>\n<p>Asia<\/p>\n<h2>INFLATION<\/h2>\n<h2>2020 2021 2021 2021 2022 2022 2022<\/h2>\n<h2>APR JULY SEPT APR JULY SEPT<\/h2>\n<p>Central 7.5 6.8 7.0 7.7 6.3 6.3 6.7<\/p>\n<p>Asia<\/p>\n<p>East Asia 2.2 1.5 1.5 1.4 2.2 2.2 2.2<\/p>\n<p>China 2.5 1.5 1.5 1.3 2.3 2.3 2.3<\/p>\n<p>South Asia 6.5 5.5 5.8 5.8 5.1 5.1 5.1<\/p>\n<p>India 6.2 5.2 5.5 5.5 4.8 4.8 4.8<\/p>\n<p>SEast Asia 1.2 2.4 2.3 2.2 2.4 2.4 2.4<\/p>\n<p>Indonesia 2.0 2.4 2.1 1.7 2.8 2.8 2.7<\/p>\n<p>Malaysia -1.1 1.8 2.0 2.5 2.0 2.0 2.3<\/p>\n<p>Myanmar 5.7 6.2 n\/a 6.2 n\/a n\/a n\/a<\/p>\n<p>Philippines 2.6 4.1 4.1 4.1 3.5 3.5 3.5<\/p>\n<p>Singapore -0.2 1.0 1.3 1.6 1.2 1.2 1.4<\/p>\n<p>Thailand -0.8 1.1 1.1 1.1 1.0 1.0 1.0<\/p>\n<p>Vietnam 3.2 3.8 3.0 2.8 4.0 4.0 3.5<\/p>\n<p>The Pacific 3.4 3.7 3.7 3.6 3.9 3.9 4.1<\/p>\n<p>Developing 2.8 2.3 2.4 2.2 2.7 2.7 2.7<\/p>\n<p>Asia<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/health-coronavirus-adb-economy\/delta-variant-clouds-developing-asias-growth-outlook-adb-idUSKBN2GI03M\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA (Reuters) &#8211; Developing Asia\u2019s economic rebound<\/p>\n","protected":false},"author":3,"featured_media":139432,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Delta variant clouds developing Asia&#x27;s growth outlook - ADB - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/delta-variant-clouds-developing-asias-growth-outlook-adb\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Delta variant clouds developing Asia&#x27;s growth outlook - ADB - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"MANILA (Reuters) &#8211; 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