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IMF upgrades 2024 Asia's economic outlook



The IMF has raised its 2024 growth forecast for Asia to 4.5%, up from 4.2% in its October estimate, reflecting improved economic prospects for China and India. Despite this increase, the growth rate represents a slowdown from the 5% expansion seen last year. The update, which includes a higher growth prediction for India and robust first-quarter performance from China due to strong exports and manufacturing, also highlights China's continued economic support measures and India's increased capital spending. However, the IMF notes potential risks such as a protracted downturn in China's property sector and geopolitical tensions affecting trade. It also cautions Asian nations against aligning too closely with U.S. Federal Reserve policies, which could impact inflation stability and currency values.

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