ADB Warns Middle East Conflict Could Impact Asian Economies

Islamabad: The Asian Development Bank has expressed concern that ongoing tensions in the Middle East could negatively affect Asian economies, warning that rising oil prices may further worsen the situation.
Speaking at the ADB’s annual meeting held in Samarkand, officials projected that regional economic growth could slow to 4.7%, while inflation may rise to around 5.2%.
The ADB president emphasized the need for stronger regional cooperation, stating that countries across Asia and the Pacific must adopt a joint strategy to address emerging challenges. He highlighted that coordinated efforts are essential to tackle economic pressures and ensure sustainable growth.
The bank also stressed the importance of enhancing cross-border connectivity, noting that stronger regional links are critical in the current global environment. Focus areas include boosting energy infrastructure and digital connectivity across the region.
Additionally, the ADB underscored the significance of its $70 billion development program, describing it as a key initiative for promoting regional growth and economic stability.