IMF cuts Asian growth forecasts

Kathleen Gallagher
clock • 2 min read

The International Monetary Foundation cut its growth forecasts for the Asia and Pacific region on Friday (October 28) as it said the region was burdened by a "sharp and uncharacteristic slowdown" of China's economy, global financial tightening and the war in Ukraine.  The growth forecasts were dropped to 4% for 2022 and 4.3% for 2023, a 0.9 and 0.8 point drop respectively from April's figures. The region has had an average of 5.5% growth over the last two decades. "Asia's strong economic rebound early this year is losing momentum, with a weaker-than-expected second quarter," explained...

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