(VOVWORLD) - Growth in the Asia-Pacific region will moderate to 4.5% this year from the outperformed 5% in 2023, said the International Monetary Fund (IMF) in its latest "Regional Economic Outlook Asia and Pacific."
 A busy shopping area in Chennai, India. (Photo: AFP/VNA) |
Asia-Pacific is expected to remain the most dynamic region across the world, contributing about 60% of global growth in 2024, the report noted. The majority of the growth surprises were from emerging Asian economies like Malaysia, the Philippines, Vietnam, and notably India.
The IMF suggested Asian central banks continue to focus on domestic price stability and avoid making policy decisions overly dependent on anticipated interest rate moves by the US Federal Reserve.