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ADB Forecasts 4.9% Growth for Asia-Pacific Economies in 2024 and 2025

Phnom Penh, April 18, 2024 – The Asian Development Bank (ADB) has released its latest outlook report, forecasting a robust 4.9 percent growth for the Asia-Pacific region in both 2024 and 2025. According to a press release by Xinhua, this growth is expected to be led by strong economic performances in South and Southeast Asia.

ADB Chief Economist Albert Park emphasized the importance of resilience for maintaining this growth trajectory. He advised policymakers across the region to continue enhancing trade, investment, and the efficiency of cross-border supply chains.

The report also anticipates a gradual decrease in inflation rates across the developing nations of the region, projecting a decline from 3.3 percent in 2023 to 3.2 percent in 2024, and further to 3 percent by 2025. However, the outlook highlights several challenges that could pose risks to this growth. Notably, the region remains susceptible to geopolitical tensions and conflicts that could disrupt supply chains and exert upward pressure on inflation.

This economic forecast underscores the dynamic growth potential of the Asia-Pacific, while also calling attention to the critical need for vigilant economic management amidst global uncertainties.

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