IMF raises Asia economic forecast

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(VOVWORLD) -Asia’s economy is expected to expand 4.6% this year after a 3.8% increase in 2022, contributing about 70% of global growth, said the International Monetary Fund (IMF) on Tuesday. 

IMF raises Asia economic forecast - ảnh 1

The IMF upgraded its forecast by 0.3 percentage points from its October 2022 forecast, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes.

According to the IMF, the reopening of China's economy is key to Asia with the spillover seen focused on consumption and service-sector demand rather than investment.

China and India will be the main drivers with growth of 5.2% and 5.9% respectively, the IMF said in its regional economic outlook report.