South Asia is expected to grow by nearly 6% this year, making it the world’s fastest-growing region

By KRUTIKA PATHI
Associated Press

NEW DELHI (AP) — The World Bank says South Asia is expected to grow by 5.8% this year, making it the fastest-growing region in the world even as the pace remains below pre-pandemic levels. The latest South Asia Development Update from the World Bank released on Tuesday projects growth in the region to slow slightly to 5.6% in 2024 and 2025, as post-pandemic rebounds fade and reduced global demand weighs on economic activity. Still, for all of the countries in the region, it marks a slowdown from pre-pandemic levels. Per capita incomes remain significantly lower than in East Asia and the Pacific region, and the current growth is still not enough for South Asian nations to achieve high-income status within a generation.