• UGI USER
  • Feb 22, 2023
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India-China Global Growth In 2023 : IMF

News: According to current predictions from the International Monetary Fund, India and China would account for more than 50% of global growth in 2023. Other Asian nations will contribute an additional 25%.

 

  • Asia’s economies are once again growing at their pre-pandemic levels.
  • Particularly developed nations include Cambodia, Malaysia, Vietnam, Thailand, and Indonesia.
  • By the end of 2023, inflation will have reached the goals set by the central banks of the individual nations.
  • The RBI raised the interest rate and repo rate during the most recent MPC.
  • In only 2022, the RBI raised the repo rate by 250 points. Even so, the inflation rate of 6.25% exceeds the RBI’s 6% target inflation rate.
  • Central banks must remain vigilant. Inflation may rise as China’s economy is being reopened.
  • Processes for making food and oil are becoming more stable.
  • In 2023 and 2024, respectively, Asia is predicted to increase by 4.7% and 4.5%.
  • The growth rate for Asian nations was 3.8% in 2022.