Asia to drive 60% of global GDP growth in 2024, led by India: IMF

U.S. monetary policy and geoeconomic fragmentation pose external risks

20240418N New Delhi

Holiday revelers in Mumbai. India is forecast to grow at 6.8% this year -- the fastest pace of any major economy. © Reuters

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- Asia will contribute roughly 60% of global economic growth this year, the International Monetary Fund said Thursday, upgrading its view on the region as momentum stays strong.

Overall, the region is projected to grow 4.5% this year -- up 0.3 percentage points from the October forecast -- before slowing to 4.3% growth in 2025, according to a regional economic outlook presented by the IMF's Asia and Pacific Department.

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