The International Monetary Fund revised its growth forecast for Asian developing economies in 2024; IMF was optimistic about India but it warned of the dangers of the worsening crisis in China’s real estate sector.
The International Monetary Fund revised its growth forecast for developing economies in Asia in 2024; it was optimistic about India, but warned of the risks posed by China’s worsening real estate crisis.
Emerging economies in Asia are expected to grow 5.2%, up 0.4% from the fund’s previous forecast in October. This year’s growth is expected to be below the estimated 5.4 percent growth for 2023.
The International Monetary Fund (IMF) forecasts China’s economy to grow 4.6 percent in 2024, 0.4 percentage points higher than its last forecast in October. The report pointed out to stronger-than-expected growth last year and the government must spend more to fight natural disasters in China.