HANOI, Dec. 15 (Xinhua) -- The Asian Development Bank (ADB) has raised its forecasts for Vietnam's economic growth by 7.5 percent this year, local media reported on Thursday.
The forecast for the country's inflation for 2022 is revised down to 3.5 percent, daily newspaper Vietnam News cited a recent report of the bank as reporting.
Though trade continues to expand, signs show weakening global demand for the country's exports. Growth for 2023 is therefore adjusted down to 6.3 percent as major trade partners weaken, according to the ADB's Asian Development Outlook 2022.
ADB has lowered its economic growth forecasts for developing Asia and the Pacific amid a worsened global outlook. The region's economy will grow 4.2 percent this year and 4.6 percent next year.
It also lowered its forecast for the region's inflation in 2022 to 4.4 percent from 4.5 percent. However, the bank raised its projection for next year to 4.2 percent from 4.0 percent, due to lingering inflationary pressures from energy and food. ■
