Accelerated public investment and accommodative fiscal and monetary policies are anticipated to further stimulate domestic demand amidst external challenges, ADB said in its latest edition of Asian Development Outlook (ADO).
Despite Typhoon Yagi severely affecting many parts of the country, the government's swift response and recovery efforts limited its impact on growth, it stated.
Southeast Asia’s growth outlook for 2024 improved, revised up to 4.7 per cent from 4.5 per cent, driven by stronger manufacturing exports and public capital spending in larger economy. The region’s 2025 growth forecast is 4.7 per cent.
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