- Growth in developing Asia is forecast at 4.8% this year and in 2024, up from 4.2% last year. The People's Republic of China's (PRC) recovery and healthy domestic demand in India will be the region’s main growth supports this year and next.
- Inflation is forecast to moderate this year and next, from 4.4% in 2022 to 4.2% in 2023 and 3.3% in 2024, gradually moving closer to pre-pandemic averages.
- An array of immediate and emerging challenges could still hold back the region’s recovery. Policy makers should stay vigilant in the post-pandemic environment of higher inflation, interest rates, and debt. Governments must continue supporting multilateralism, and lean against the risks of global fracturing.
