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HomeNationalADB cuts India's GDP growth forecast for FY23 to 7 pc due...

ADB cuts India’s GDP growth forecast for FY23 to 7 pc due to high inflation, monetary tighteningTAZAA News

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“However, as price pressures are expected to negatively impact domestic consumption, GDP growth has been revised down from the ADO 2022 estimates to 7.2 percent for FY2022 (ending March 2023) and FY2023 (ending March 2024). Demand and increased oil prices may be a drag on net exports,” it said.

ADO expects the Chinese economy to expand by 3.3 percent in 2022, down from the earlier estimate of 5 percent. Lockdowns from the zero-covid strategy, problems in the property sector and weak external demand are weighing on economic activity in China, the report said.

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