12 Apr 2024

Pacific gets a positive outlook from the ADB

From , 6:01 am on 12 April 2024
Assortment of French Pacific Franc banknotes

Assortment of French Pacific Franc banknotes Photo: Creative Touch Imaging Ltd/NurPhoto

While much of the western world struggles with depressed economies, the Asian Development Bank, the ADB, is predicting mostly healthy growth -- across the Pacific over the next several years.

The Bank's just released its 2024 Asian Development Outlook Report which presents analysis and prospects for the countries of the Asia Pacific.

It shows regional growth averaging 3.3% this year and 4.0% in 2025: Inflation will also be higher at  4.3% across the region this year and 4.1% in 2025. 

The news is most positive for Palau with eight percent growth likely by 2025, but other countries, especially Papua New Guinea, will experience significant growth. 

ADB economist Cara Tinio spoke with RNZ Pacific's Don Wiseman.