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Economy

China lockdowns, Ukraine, inflation dent ASEAN+3 growth forecast

International monitor AMRO cuts 2022 projection to 4.3%

China's strict COVID-19 countermeasures are one factor seen weighing on Asian growth this year.   © Reuters

SINGAPORE -- Headwinds from the Ukraine war and higher inflation are likely to hinder economic growth in Asia this year, according to a new forecast released Tuesday.

The ASEAN+3 Macroeconomic Research Office (AMRO), an international organization that monitors the economies of the 10 members of the Association of Southeast Asian Nations, along with China, Japan and South Korea, lowered its annual growth forecast for the region to 4.3%, from 4.7% in April.

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