South Asia Development Update April 2024: Jobs for ResilienceGDP in South Asia is estimated to grow at 6.0% in fiscal year (FY) 2024 and 6.1% in FY2025, backed by strong growth in India and the rest of South Asia, outperforming other emerging market and developing economies. In Bangladesh, GDP growth is projected at 5.6% in FY2023-2024 and 5.7% in FY2024-2025; while Bhutan growth is projected at 4.9% FY2023-2024 and 5.7% in FY2024-2025. Robust growth is projected for India at 7.5% in FY2023-2024 and 6.6% in FY2024-2025. Growth will be on an upward trajectory for Maldives at 4.7% in FY2024 and 5.2% in FY2025; for Nepal at 3.3% in FY2023-2024 and 4.6% in FY2024-2025; and for Sri Lanka at 2.2% in FY2024 and FY2.5 in 2025. Author: World Bank Year: 2024 Download Tags: Regional Economic Outlook: Asia and Pacific: Steady Growth amid Diverging ProspectsGross domestic product (GDP) is forecast to slow to 4.5% across Asia and the Pacific. In Bangladesh, growth outlook is projected at 5.7% in fiscal year (FY) in 2024 and 6.6% in 2025. In India, GDP is forecast at 6.8% in FY2024 and 6.5% in FY2025. Myanmar is projected to grow by 1.5% in FY2024 and 2.0% in FY2025, while Nepal is projected to grow by 3.1% in FY2024 and 5.2% in FY2025. Author: International Monetary Fund Year: 2024 Download Tags: South Asia  Asian Development Outlook (ADO) April 2024Robust growth is forecast for South Asia in fiscal year (FY) 2024, driven by strong gains in investments, consumption, and the electronics and services sectors. Gross domestic product (GDP) is estimated at 6.3% in FY2024 and 6.6% in FY2025 in South Asia. In Bangladesh, GDP growth is projected at 6.1% in FY2024 behind the growth of traditional low-end garments. Bhutan's projected GDP is at 4.4% given major developments in the country's hydropower sector. In India, GDP is forecast at 7.0% in FY2024, after a strong momentum in manufacturing and services in FY2023 and with exports expected to pick up in FY2025 with the rise in global growth. Growth in Maldives is estimated at 5.4% in FY2024 supported by tourism and construction. Nepal is estimated to grow at 3.6% backed by hydroelectric production and domestic demand. Amid recovery efforts in Sri Lanka, modest growth at 1.9% is forecast for the country in FY2024. In Southeast Asia, Myanmar’s GDP is projected to remain low at 1.2%. Author: Asian Development Bank Year: 2024 Download Tags: South Asia, ADB, Hydropower, Tourism, Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, Sri Lanka Financing Transport Connectivity in the BIMSTEC RegionFinancing Transport Connectivity in the BIMSTEC Region looks at how to finance an overhaul of transport infrastructure in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) subregion. The report identifies institutional gaps in the BiMSTEC regional institutions compared with regional institutions in the European Commission, Association of Southeast Asian Nations, and the South Asia Subregional Economic Cooperation (SASEC) partnership. Author: Asian Development Bank Year: 2023 Download Tags: ADB, South Asia, Transport, Regional Cooperation |
