IMF's Economic Projection for ASEAN 2024-2025: Indonesia Among the Highest

Economics & Macro

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Erlina Fury Santika 13/08/2024 19:10 WIB

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The IMF has released economic growth projections for several countries for 2024-2025. These are the growth projections for ASEAN.

ASEAN Countries' Economic Growth Projections 2024-2025 according to the IMF (July 2024)

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IMF's Economic Projection for ASEAN 2024-2025: Indonesia Among the Highest

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ASEAN Countries' Economic Growth Projections 2024-2025 according to the IMF (July 2024)

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The July 2024 World Economic Outlook (WEO) Update from the International Monetary Fund (IMF) compiles the economic growth of several ASEAN countries. All are projected to experience positive growth.

The highest is the Philippines, with a projected annual (year-on-year/yoy) growth of 6% in 2024. This projection is significantly higher than the 5.5% growth in 2023.

For 2025, the IMF projects Philippine growth to reach 6.2%.

Indonesia is also projected to have high growth, reaching 5% in 2024. However, this projection is stagnant compared to 2023, which was also 5%.

In 2025, Indonesia's economic growth is projected to reach 5.1%.

Malaysia is predicted to experience consistent economic growth, at 4.4% in both 2024 and 2025. This projection is higher than the 3.6% achieved in 2023.

Finally, Thailand is projected to achieve economic growth of 2.9% in 2024, more aggressive than the 1.9% growth in 2023. A growth of 3.1% is projected for 2025.

However, the IMF did not include other ASEAN countries such as Singapore, Cambodia, Brunei Darussalam, Timor-Leste, Laos, Vietnam, and Myanmar.

Meanwhile, the IMF projects global growth to remain stable at 3.2% in 2024 and 3.3% in 2025. This growth is unchanged from the IMF's April 2024 projection.

The IMF also predicts that global inflation will continue to decline. In advanced economies, the revised forecast is that the disinflation rate will slow in 2024 and 2025.

However, inflation is expected to remain higher in emerging markets and decline more slowly than in advanced economies.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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IMF's Economic Projection for ASEAN 2024-2025: Indonesia Among the Highest

IMF's Economic Projection for ASEAN 2024-2025: Indonesia Among the Highest

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