IMF raises growth forecast for Asia-Pacific

The International Monetary Fund has raised its growth forecast for the Asia-Pacific this year to 4.5 percent, largely based on improved outlooks for China and India.

"The Asia-Pacific region is marked by both resilient growth and rapid disinflation," said IMF Asia and Pacific Department Director Krishna Srinivasan at a news conference launching the latest Regional Economic Outlook report in Singapore on Tuesday.

The region's projected growth is 0.3 percentage points higher than the IMF's previous forecast last October but will slow from 5 percent in 2023, Srinivasan said, noting the region remains inherently dynamic and accounts for about 60 percent of global growth.