In its latest edition of Asian Development Outlook (ADO), the bank highlighted that accelerated public investment and accommodative fiscal and monetary policies are anticipated to further stimulate domestic demand amidst external challenges.
Despite the severe impacts caused by Typhoon Yagi in various areas of the country, the Government's swift response and recovery efforts limited the impacts on growth, it stated.
The growth forecasts for Asia and Pacific were trimmed to 4.9% in 2024 and 4.8% for 2025 due to weaker domestic demand prospects in South Asia.
In the meantime, the region’s inflation rates were adjusted down to 2.7% from 2.8% in 2024 and 2.6% from 2.9% in 2025, mainly on softening global commodity prices and an expected decline in oil prices./.
