IMF Regional Economic Outlook - Asia’s Structural Transformation: The Past and Prospects

In this seminar, Johannes Wiegand from the International Monetary Fund (IMF), presented insights from the latest IMF Regional Economic Outlook. The report analyzes the drivers behind the region's recent higher-than-expected growth and discusses potential risks stemming from geopolitical tensions. In the near term, the IMF projects that the region will experience an average growth rate of 4.6 percent this year and 4.4 percent next year.
In the second part of the seminar, Wiegand explored the long-term structural transformation occurring across the region. He emphasized that productivity growth will be essential as the labor supply declines, with the reallocation of workers from agricultural sectors being a key factor in driving productivity gains. However, there is uncertainty regarding the sustainability of growth driven by industrialization. Wiegand highlighted that the services sector also shows promise as a future driver of growth.