Asia-Pacific region’s economy grows faster than expected: IMF
(VOVWORLD) - The Asia‑Pacific economy saw a surprising surge in growth on the upside in the second half of 2023, most notably in India, which recorded sizable positive growth surprises, according to Krishna Srinivasan, Director of the Asia and Pacific Department at the International Monetary Fund (IMF).
 (Photo: AFP/ VNA) |
At the IMF’s press briefing on the Regional Economic Outlook for Asia and the Pacific on Thursday during the Spring Meeting week between the International Monetary Fund and the World Bank (WB) in Washington, D.C, Srinivasan said growth for the region reached 5% in 2023, much stronger than the growth of 3.9% recorded in 2022.
The IMF projected the Asia Pacific region to grow by 4.5% in 2024 and is expected to contribute about 60% of global growth.
Regarding the Vietnamese economy, Srinivasan said the IMF expected annual growth of about 6.5%. He said there are many opportunities from digitization to green transition, adding that in countries like Vietnam, there is a lot of potential and a lot of Foreign Direct Investment (FDI) is coming in.