Growth in South Asia, already uneven and fragile, will be slower than previously projected, due to the impacts of the war in Ukraine and persistent economic challenges, says the World Bank in its twice-a-year regional update.
The latest South Asia Economic Focus Reshaping Norms: A New Way Forward, released on April 13, 2022, projects the region to grow by 6.6 percent in 2022 and by 6.3 percent in 2023. The 2022 forecast has been revised downward by 1.0 percentage point compared to the January projection.
Countries in South Asia are already grappling with rising commodity prices, supply bottlenecks, and vulnerabilities in financial sectors. The war in Ukraine will amplify these challenges, further contributing to inflation, increasing fiscal deficits, and deteriorating current account balances.
At this online seminar, Zoe Leiyu Xie, Senior Economist; Valerie Mercer-Blackman, Senior Economist; and Nele Warrinnier, Consultant Economist, Office of the Chief Economist for South Asia Region, World Bank, presented the main findings of the report.
Date/time:
8am-9am, Friday, May 27, 2022 (Japan Standard Time)
Speakers
Zoe Leiyu Xie
Senior Economist, Office of the Chief Economist for South Asia Region, World Bank
Valerie Mercer-Blackman
Senior Economist, Office of the Chief Economist for South Asia Region, World Bank
Nele Warrinnier
Consultant Economist, Office of the Chief Economist for South Asia Region, World Bank
Presentation material:
Reshaping Norms: A New Way Forward - South Asia Economic Focus Spring 2022 (PDF)
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