South Asia is projected to grow at 6.5% in fiscal year (FY) 2022 and 6.3% in FY2023. In Bangladesh, weak exports and high inflation are hampering recovery, while in Bhutan, agriculture and construction are projected to support economic growth. In India, growth is projected at 7.0% in FY2022 and 7.2% in FY2023, sustained by public reform and public and private investment. Maldives tourist arrivals and construction continue to pick up. In Nepal, the 2023 budget aims to improve agriculture, industry, and social protection. Economic contraction is expected in Sri Lanka with marked declines in industry and agriculture. In Southeast Asia, Myanmar maintains positive growth projections despite high rates of inflation.

Author: Asian Development Bank

Year: 2022

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Tags: ADB, Agriculture, South Asia, Southeast Asia, Investment, Social Protection