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. 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. China and India will be key drivers of growth with an expansion of 5.2 per cent and 5.9 per cent respectively. 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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