Regional Economic Outlook For Asia And Pacific Report April 2024 : IMF Report
The International Monetary Fund (IMF) has released its Regional Economic Outlook for Asia And Pacific Report April 2024, which stated that India was the source of repeated positive growth surprises, supported by resilient domestic demand. Also, Public Investment is a significant factor in driving India’s economy.
Highlights of the Report:
- Asia-Pacific’s growth in late 2023 surpassed expectations at 5.0%, with varying inflation rates across economies.
- Projections for 2024 suggest a slight growth slowdown to 4.5%, balancing near-term risks.
- In emerging markets, growth was supported primarily by strong private demand.
- It raised India’s growth forecast for the financial year 2024-25 to 6.8% from 6.5% earlier and retained the growth forecast for 2025-26 at 6.5%.
- It stated that India and the Philippines have been the source of repeated positive growth surprises, supported by resilient domestic demand.
- In China and, especially, India, public investment made an important contribution.
