Economic growth in developing Asia and the Pacific remains steady, but US policy changes under the incoming Trump administration may impact the region.
Asia and the Pacific is continuing its solid economic recovery thanks to healthy domestic demand, stable financial conditions, and a resilient services sector, while inflation in the region is receding.
Bhutan’s schools maintained their relatively strong performance during the pandemic as access to remote learning, the opening of boarding facilities, and moves to prioritize education for secondary school pupils prevented performance gaps widening.
Exports from developing Asia weakened in the first quarter of 2023 as global demand slowed. However, consumption and investment are forecast to boost aggregate regional growth to 4.8% in 2023, as earlier forecast, with the projection for 2024 revised down only marginally to 4.7%.
This publication highlights brighter economic prospects for Asia and the Pacific amid ongoing challenges. It forecasts growth across the region’s developing economies of 4.8% this year and in 2024, up from 4.2% in 2022.
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Economic growth in developing Asia and the Pacific remains steady, but US policy changes under the incoming Trump administration may impact the region.