The Asian Development Bank (ADB) has released its latest outlook report, painting a positive picture for the Asia-Pacific region with a forecasted robust growth of 4.9 percent in both 2024 and 2025. This anticipated growth is expected to be driven by the impressive economic performances of South and Southeast Asia, according to a press release by Xinhua.

ADB Chief Economist Albert Park emphasized the importance of resilience in maintaining this growth trajectory, advising policymakers to focus on enhancing trade, investment, and the efficiency of cross-border supply chains.

Moreover, the report predicts a gradual decrease in inflation rates across developing nations in the region, offering a projection of 3.2 percent for 2024 and further declining to 3 percent by 2025. However, it also highlights potential challenges, such as geopolitical tensions and conflicts, that could disrupt supply chains and influence inflation rates.

Despite these risks, the outlook underscores the dynamic growth potential of the Asia-Pacific, emphasizing the critical need for vigilant economic management amidst global uncertainties.