The International Monetary Fund (IMF) raised its forecast for the Asia-Pacific region, revealing that growth in the region will be driven mainly by China's recovery and "resilient" growth in India.
According to the May Regional Economic Outlook report, the IMF expects Asia-Pacific GDP to grow 4.6 percent this year, 0.3 percentage points higher than its October forecast.
According to the IMF, the updated forecast means the region will contribute about 70 percent of global growth. The Asia-Pacific region expanded by 3.8 percent in 2022.
Source (Al-Arabiya.net Website, Edited)
