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Economy

U.S. monetary policy and geoeconomic fragmentation pose external risks

Holiday revelers in Mumbai. India is forecast to grow at 6.8% this year — the fastest pace of any major economy.

  © Reuters

JACK STONE TRUITT, Nikkei staff writerApril 19, 2024 03:13 JST | East Asia

NEW YORK — Asia will contribute roughly 60% of global economic growth this year, the International Monetary Fund said Thursday, upgrading its view on the region as momentum stays strong.

Overall, the region is projected to grow 4.5% this year — up 0.3 percentage points from the October forecast — before slowing to 4.3% growth in 2025, according to a regional economic outlook presented by the IMF’s Asia and Pacific Department.

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