The region’s growth is forecast to rebound to 7.3% in 2021, moderating to 5.3% in 2022. Excluding high income newly industrialized economies, growth of 7.7% is forecast for this year and 5.6% for next year. Headline inflation- after a marginal decline in 2020—is projected to fall to 2.3% in 2021 on easing food-price pressures, with prices expected to rise by 2.7% in 2022.
