The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a 'substantial' economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia.
Vaccination rates have increased across developing Asia in recent months but coverage remains uneven, the ADB saidMANILA - The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a"substantial" economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia.
While the region was expected to sustain a"strong rebound" and keep inflation at manageable levels, the emergence of Omicron had brought"additional uncertainty", the ADB said. Vaccination rates have increased across developing Asia in recent months, with nearly half of the population fully protected against Covid-19 at the end of November, compared with less than a third at the end of August, the lender said.
And the region still lagged the nearly 60 percent coverage in the United States and more than 67 percent in the European Union.
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