Developing economies in Asia and the Pacific are forecast to expand 4.9% this year as the region continues growing amid robust domestic demand, improving semiconductor exports, and recovering tourism.
More in ADB’s flagship economic report: ow.ly/njZs50Ra6V5
Economic growth in the Pacific is projected to moderate in 2024 before picking up in 2025, according to the Asian Development Outlook (ADO) April 2024, Asian Development Bank's flagship economic publication, released today. #ADO2024
Inflation is expected to reach 3.0% next year, as global price pressures ease. However, for the region excluding the PRC, it remains higher than before the COVID-19 pandemic.
More in ADB’s flagship economic report: ow.ly/1AnY50Ra6Wb
Growth In Papua New Guinea slowed to 2.0% in 2023 due to decreased production in the resource sector. Foreign exchange restrictions & frequent power disruptions also dampened activity in the rest of the economy. #ADO2024 ▶️ adb.org/news/3-3-growt… ▶️ adb.org/outlook/editio…
ICYMI: #ADO2024 forecasts Philippine economic growth at 6.0% this year, further picking up pace at 6.2% in 2025 . The Philippines will continue to be among the fastest growing economies in Southeast Asia this year and the next, based on the report.
Developing economies in Asia and the Pacific are forecast to expand 4.9% this year as the region continues growing amid robust domestic demand, improving semiconductor exports, and recovering tourism.
More in ADB’s flagship economic report: ow.ly/O3Hl50Ra8B2 #ADO2024
Developing economies in Asia & the Pacific are poised for strong growth this year despite external uncertainty.
📹 ADB Chief Economist Albert Park talks about what's driving this momentum and the risks that could potentially weigh on the region’s outlook. Learn more ⬇️ #ADO2024
