Regional Economic Outlook, Asia and Pacific, April 2024

Released on by International Monetary Fund. Asia and Pacific Dept
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  • Regional Economic Outlook, Asia and Pacific, April 2024 Book Detail

  • Author : International Monetary Fund. Asia and Pacific Dept
  • Release Date : 2024-04-29
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 35
  • ISBN 13 :
  • File Size : 96,96 MB
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Regional Economic Outlook, Asia and Pacific, April 2024 by International Monetary Fund. Asia and Pacific Dept PDF Summary

Book Description: Growth in Asia and the Pacific outperformed expectations in late 2023, reaching 5.0 percent for the year. Inflation has continued to decline, albeit at varying speeds: some economies are still seeing sustained price pressures, while others are facing deflationary risks. In 2024, growth is projected to slow modestly to 4.5 percent. Near-term risks are now broadly balanced, as global disinflation and the prospect of monetary easing have increased the likelihood of a soft landing. Spillovers from a deeper property sector correction in China remain an important risk, however, while geoeconomic fragmentation clouds medium-term prospects. Given the diverse inflation landscape, central bank policies need to calibrate policies carefully to domestic needs. Fiscal consolidation should accelerate to contain debt burdens and debt service cost, in order to preserve budgetary space for addressing structural challenges, including population aging and climate change.

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