Inflation is expected to continue falling, approaching pre-pandemic levels as fuel and food prices decline, according to the ADB’s Asian Development Outlook released on July 19.
Meanwhile, the Asia Pacific region is expected to maintain growth of 4.8% this year, driven by domestic demand.
Inflation in developing Asia is forecast at 3.6% this year, compared with an April forecast of 4.2%.
The Asian Development Bank has also revised its GDP growth forecast for Vietnam down to 5.8% for 2023 and 6.5% for 2024, from 6.5% and 6.8% in April, respectively.
Weak external demand continued to put pressure on manufacturing and industrial production, while domestic conditions are expected to improve moving forward, according to the Outlook./.
VNA
