Asia to grow about 5.4% this year and next: IMF

Washington

ASIA continues to lead global growth and is projected to expand by about 5.4 per cent this year and in 2017. But slowing productivity growth, ageing population, and rising inequality "cast a long shadow" on prospects, according to the International Monetary Fund.

In its latest Asia and Pacific Regional Economic Outlook Update, the IMF said that the "near-term outlook in Asia remains strong and is supported by domestic demand. But global and local risks somewhat cloud the growth horizon".