Asia is on track to again deliver two-thirds of global growth in 2024, as it did in 2023, said Krishna Srinivasan, Director of the International Monetary Fund (IMF) Asia and Pacific Department. It has also upgraded its regional growth forecast for 2024 to 4.5 per cent, from 4.2 per cent in October. On the other hand, it projected 3.1 per cent growth for 2024 on a global level–the same growth rate as in 2023. The not-so-good news is that they remain significantly below the historical (2000-2019) average for global growth of 3.8 per cent,” the IMF official at the presser. The regional growth average, however, hides significant divergence between countries.
