IMF Says Asia Will Post 5.6% Growth in 2018

Eko Nordiansyah    •    12 Oktober 2018 16:58 WIB
global economy (en)
IMF Says Asia Will Post 5.6% Growth in 2018
Bali is hosting the annual meetings of the International Monetary Fund and the World Bank this week. (Photo:Ant)

Nusa Dua: The International Monetary Fund has projected that Asia's economic growth will reach 5.6 percent by the end of 2018.

"Asia has shown a remarkable progress in the past few decades," IMF Asia and Pacific department director Changyong Ree told a press briefing on Friday.

The agency's Regional Economic Outlook says Asia continues to drive the global economy. It also cites  longer-term challenges for the continent’s growth prospects.

"Continued trade tensions could further undermine business confidence, hurt financial markets, disrupt supply chains, and discourage investment and trade in the region," the report said.

Bali is hosting the annual meetings of the International Monetary Fund and the World Bank this week. It welcomes around 34 thousand participants representing various institutions.

The agency earlier cut its forecast of global growth by two-tenths to 3.7 percent in 2018 and 2019. It also projected slower trade growths due to ongoing trade wars between the United States and other countries.


(WAH)