Live Breaking News & Updates on He Report Said Quot Higher Interest Rates Will Dampen Economic Activity And Stifle Growth

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 ....

Jakarta Raya , Rhea Hernando , International Monetary Fund , Asia Pacific Economic Cooperation , Support Unit , Policy Support , Support Unit Denis Hew , Apec Illustration For Inflation People Buy Food Amid And Rising Prices In Thailand Antara Ho Secretariat Jakarta Economic Growth The Asia Pacific Cooperation Region Is Expected To Slow Down This Year Soaring , A Protracted War In Ukraine , Nd Heightened Uncertainties , Ccording Toa New Report By The Apec Policy Support Unit On Top Of That , He Continuing Impact Of The Pandemic And Virus Mutations Are Draining Resources In Region , He Report Said , S Noted Ina Release Issued By The Apec Secretariat And Received Here On Friday Policy Support Unit Is Currently Downgrading Its Gross Domestic Product Gdp Growth Projection For Region To 2 5 Percent In 2022 , Hich Is Lower Than Its Earlier Projection Of 3 2 Percent The Growth Forecast For Next Year Has Also Been Downgraded , Rom 3 4 Percent To 2 6 Quot The Expected Economic Moderation In Apec Is Line With Lower Projections For Global Economy Earlier This Week , E Saw The International Monetary Fund Revise Downward Its Global Gdp Forecast For 2022 To 3 2 Percent , Rom 3 6 Percent , Uot Said Rhea Hernando , A Senior Researcher With The Policy Support Unit Quot Sharp Downgrades In Economic Growth For China And Us , Long With An Expected Contraction In Russia , Eighed On The Apec Region 39s Prospects , Uot She Said Global Food And Energy Prices Increased By 23 Percent 60 Respectively In June As Compared Toa Year Ago , Ontributing Toa Surge In Inflation Across The Apec Region Of 5 4 Percent For Period From January To June This Year Is Highest Rate That Has Seen Since 2008 When It Hit 6 At Height Global Financial Crisis Quot Not Only High , Ut It Is Also Becoming Broad Based , Hich Particularly Harms Poor Households And Small Businesses ,