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Asia battles rising, uneven toll of energy crisis caused by Iran war
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Asian nations are confronting economic challenges from an energy crisis linked to Iran-related conflict, with regional development forecasts being downgraded and inflation concerns rising across the continent.
Asia battles rising, uneven toll of energy crisis caused by Iran war
Governments in Asia, the top oil importing region, are scrambling to find alternatives and insulate their economies from the worst of the energy crisis triggered by the Iran war, but the pain is getting increasingly costly.
The disruption spurred the Asian Development Bank to cut its growth forecast for developing Asia and the Pacific to 4.7 per cent this year and 4.8pc in 2027, down from 5.1pc for both years previously, and lifted its inflation outlook to 5.2pc for this year.
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