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APEC region s growth to slow down amid uncertainties, crisis

APEC Illustration for inflation. People buy food amid inflation and rising food prices in Thailand. (ANTARA/HO-APEC Secretariat) JAKARTA - Economic growth in the Asia-Pacific Economic Cooperation (APEC) region is expected to slow down this year amid soaring inflation, a protracted war in Ukraine, and heightened uncertainties, according to a new report by the APEC Policy Support Unit. On top of that, the continuing impact of the pandemic and virus mutations are draining resources in the region, the report said, as noted in a release issued by the APEC Secretariat and received here on Friday. The APEC Policy Support Unit is currently downgrading its gross domestic product (GDP) growth projection for the APEC region to 2.5 percent in 2022, which is lower than its earlier projection of 3.2 percent. The growth forecast for next year has also been downgraded, from 3.4 percent to 2.6 percent. "The expected economic moderation in APEC is in line with lower projections for the global econo

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