Asian Development Bank (ADB)’s Post

Global growth remains highly dependent on fast-growing Asian economies. Global growth is projected 3.1% in 2024. As inflation abates further and real incomes strengthen, the world economy is projected to grow by 3.2% in 2025 Türkiye's economic recovery from the COVID-19 pandemic has been swift, driven by private consumption and exports. Following the May 2023 elections, the newly appointed economic team has launched a comprehensive policy set to address past macroeconomic imbalances, especially high inflation. Since then, Türkiye has been moving to normalizing its macroeconomic strategies. The country experienced a robust economic expansion of 4.5% in 2023. However, this growth rate is expected to decrease to 2.9% in 2024, before picking up again in subsequent years on a stronger basis. Longstanding macro and structural challenges that undermine potential growth—including high inflation, low productivity growth, low labor force participation, and employment levels, and weakening foreign direct investment—would require robust fiscal measures and ambitious structural reforms to help accelerate sustainable economic growth.

https://lnkd.in/gRNsr76X The IMF's latest World Economic Update (July 2024) has highlighted Asia's economic resilience amid a still weak global macro backdrop: - Asia remains a key driver of global growth, with China and India accounting for nearly half of it - World trade growth projected at 3.25% annually for 2024-25 - China's growth forecast revised up to 5% for 2024, driven by rebounding consumption and exports - India's growth projection raised to 7% for 2024, boosted by improved private consumption - Japan faces short-term challenges but expects consumption uptick in H2 2024 Interesting times ahead, with expectations of rates coming down in the US, and Asia most likely following suit, increasing noise ahead of the US election in November, and all eyes on how China's economy will be performing over the course of the rest of the year. #WorldEconomicOutlook #AsianEconomy #GlobalGrowth #IMF #whyasia #Asianequities #asia

In the second quarter of 2024, most global economies are resilient, despite slight moderation. The US and Japanese economies improved in the second quarter whereas the UK and China's performance moderated. The euro area, meanwhile, held steady. That said, volatility and uncertainty increased by the end of July and continued into the first week of August. Heightened geopolitical tensions also added to the global volatility. Download the detailed #CRISILInsights global economy report to find out more on global economy headwinds: https://lnkd.in/dBtCqTHc #GlobalEconomy #USEconomy #UKEconomy #ChinaEconomy #JapanEconomy #CRISIL

8 key #Asia themes from Sonal Varma and Si Ying Toh for 2024: 🎛️ A #semiconductor-led export tailwind 🛬 Soft landing for Asian economies ⏯️ Sweet spot for H1, choppier H2 🇨🇳 China's real turning point (challenges from #demographics, debt and geopolitics) 🗳️ #Election-heavy H1 🔀 #Inflation divergence across Asian economies 💰 Monetary policy easing (but Asia should ease less than the Fed) 🎢 Fastest-growing economies this decade: #India, #Indonesia and the #Philippines More via Nomura:

IMF Director of Asia & Pacific Krishna Srinivasan: Consumer demand in Asia and the Pacific will fuel economic growth this year. We now project a 4.5% expansion, more than previously forecast but still slightly slower than last year’s pace. The revision reflects upgrades for China, where policy stimulus should provide support, and India, where public investment remains an important driver, making it the world’s fastest-growing major economy. A robust consumer will remain the main growth driver in Asia’s other emerging market economies. Read our new blog: https://lnkd.in/d5RPJr4w Read the full Regional Economic Outlook report and watch the press conference: https://lnkd.in/ezex3ZjN

Inflation in developing economies in Asia and the Pacific continues to moderate, partly due to the lingering effects of higher interest rates and a slight easing of global food prices. Explore the latest Asian Development Outlook for more economic insights and analysis. #ADO2024 📊👉 https://ow.ly/K1ab50SFNJF

Economic growth in #Asia is expected to outperform the US and Europe due to stronger fundamentals and a recovery in the goods cycle, our economists Sonal Varma and Si Ying Toh write. These are the 8 key #macroeconomic themes as we head into 2024: https://lnkd.in/gkytHR5P

Which countries are doing well on growth in 2024? #usa #russia #india #china #brazil - #worldeconomicoutlook #imf The outlook paints a picture of a world economy that avoided the worst stagflation dangers coming out of the pandemic, but with stunted potential in the coming years.

Comparing the Economies of U.S. and China in 3 Key Metrics

📊 The IMF's Middle East Regional Economic Outlook, released today, states: 🔵 Resilience in the global economy and easing global inflationary pressures are positive developments for economies in the Middle East and Central Asia. Overall growth is projected to strengthen to 2.8 percent in 2024 (from 2.0 percent in 2023) and 4.2 percent in 2025. 🔵 The outlook is subject to higher-than-usual uncertainty, and downside risks prevail. The conflict in Gaza and Israel remains a key downside risk for the MENA region, including the risk of further escalation or a protracted conflict