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According to the IMF report, the growth of the Asia-Pacific region is expected to increase to ______ in 2023 from 3.8% in 2022.
A)
4.6%
B)
4.9%
C)
5.2%
D)
5.5%

Correct Answer :   4.6%


Growth in the dynamic Asia-Pacific region is projected to increase to 4.6% in 2023 from that of 3.8% recorded in 2022, according to the International Monetary Fund (IMF) which stated that the growth will be largely led by India and China.

In its Regional Economic Outlook - Asia and Pacific report released on Tuesday (2nd May 2023), the Washington-based fund said the region would contribute around 70% of global growth.

"Asia and Pacific will be the most dynamic of the world's major regions in 2023, predominantly driven by the buoyant outlook for China and India," the IMF report said, adding that the two largest emerging market economies of the region are expected to contribute around half of global growth this year, with the rest of Asia and Pacific contributing an additional fifth.

Meanwhile, IMF said 2023 looks to be a challenging year for the global economy, with global growth decelerating as the effects of monetary policy tightening (through consistent interest rate hikes) and Russia's war in Ukraine continue to weigh on economic activity..

Source : Times of India

Published On : May 3, 2023
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