Regional Economic Outlook for Asia and Pacific

COMING SOON

Regional Economic Outlook for Asia and Pacific

TUESDAY, April 29, 10:00 PM ET | April 30, 10:00 AM, (Singapore, GMT +8)

Watch the press conference with:

Krishna Srinivasan, Director, Asia and Pacific Department, IMF
Thomas Helbling, Deputy Director, Asia and Pacific Department, IMF
Huong Lan Vu, Communications Officer, Communications Department, IMF

The full report, blog, and the video recording of the press conference will be available on this page on April 30, 2024.

2024 Spring Meetings Press Conference on the Regional Economic Outlook for Asia & Pacific

Opening Remarks by Krishna Srinivasan, Director, Asia and Pacific Department, IMF

April 18, 2024, Washington, DC

Growth surprised on the upside in the second half of 2023, as robust domestic demand fueled activity especially in emerging Asian economies. Malaysia, the Philippines, Vietnam, and, most notably, India recorded sizeable positive growth surprises.

Growth for the region reached 5.0 percent in 2023—much stronger than the growth of 3.9 percent in 2022—and is 0.4 percentage points higher than what we had projected in the October 2023 Regional Economic Outlook.

The momentum carries over into 2024. We now project the region to grow by 4.5 percent in 2024—an upward revision of 0.3 percentage points relative to October. With this, Asia would contribute about 60 percent of global growth. The region is projected to grow by 4.3 percent in 2025.

Read the Full Speech (English | Chinese | Japanese) and the Transcript of the Press Conference.