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.
According to Jobs for Resilience, the latest South Asia Development Update released on April 2, 2024, South Asia is expected to remain the fastest-growing region in the world for the next two years, with growth projected to be 6.1% in 2025.
But this strong outlook is deceptive, says the report. For most countries, growth is still below pre-pandemic levels and is reliant on public spending. At the same time, private investment growth has slowed sharply in all South Asian countries and the region is not creating enough jobs to keep pace with its rapidly increasing working-age population.
At this online seminar, Franziska Ohnsorge, Chief Economist for South Asia Region and the team presented the main findings of the report.
Date/Time:
8am-9am, Friday April 19, 2024 (Japan Standard Time)
Speakers:
Franziska Ohnsorge
Chief Economist for South Asia Region, World Bank
Partick Kirby, Senior Economist
Office of the Chief Economist for South Asia Region, World Bank
Zoe Leiyu Xie
Senior Economist, Office of the Chief Economist for South Asia Region, World Bank
Presentation Material:
South Asia Development Update, April 2024: Jobs for Resilience (PDF)