Growth in South Asia is expected to be strong at 6.0% in 2024, driven mainly by robust growth in India and recoveries in Pakistan and Sri Lanka. But persistent structural challenges threaten to undermine sustained growth, hindering the region’s ability to create jobs and respond to climate shocks, says the World Bank in its twice-a-year regional outlook.
WASHINGTON, April 4, 2023 South Asia’s growth prospects have weakened due to tightening financial conditions, with large downside risks in most countries given limited fiscal space and depleting reserves, says the World Bank in its twice-a-year regional update. The report stresses the need to roll back market distortions introduced during the pandemic and address debilitating socioeconomic divides that constrain South Asia’s potential.
Download the latest South Asia Economic Update Spring 2023 Edition. Access data, facts, statistics and learn more about what opportunities a stabilizing global economy can create for the South Asia region and what challenges remain as countries still feel the impacts of major global and regional shocks. The report’s thematic chapter focuses on inequality of opportunity and intergenerational mobility in South Asia and how countries can ensure more equitable growth in the region. A key point, among others, highlighted in the report is securing equal opportunities of education for all.
Download the latest South Asia Economic Update. Access data, facts, statistics and learn more about the economic impact of the war in Ukraine on South Asia and how countries can chart a new way forward to address rising inequality, accommodate an energy transition, and unleash new growth potential.