Question
According to the International Monetary Fund,Asia's
economy is expected to expand by _______ this year after a 3.8 per cent increase in 2022Solution
The International Monetary Fund (IMF) has raised Asia's economic forecast on the back of the reopening of China. Β Asia's economy is expected to expand by 4.6 per cent this year after a 3.8 per cent increase in 2022. The forecast for 2023 is an upgrade of 0.3 per cent from its October forecast of 4.3 per cent. Β Β China and India will be key drivers of growth with an expansion of 5.2 per cent and 5.9 per cent respectively. Β Β Β However, the IMF cut next year's Asian growth forecast by 0.2 per cent to 4.4 per cent, and warned of risks to the outlook such as stickier-than-expected inflation, slowing global demand as well as the impact of US and European banking-sector stress.
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