UN Economist says energy costs weighing down on China and India

Economic growth in China is expected to slow this year despite a 5 percent expansion in 2025, as rising oil prices weigh on the outlook, according to a senior economist at the United Nations Economic and Social Commission for Asia and the Pacific.

Hamza Malik said growth could fall to between 4.6 percent and 4.3 percent, while India’s economy is also expected to ease from over 7 percent to about 6 percent. 

“Asia-Pacific remains the engine of global economic growth,” Malik was quoted by Associated Press as having said at a news conference at United Nations headquarters in New York.

He said higher prices for oil, gasoline and fertilisers linked to the war are affecting the region’s economic trajectory.