Asia growth rate estimated at 4.5% in 2023: Boao Forum annual report

(VOVWORLD) - Asia is expected to record weighted real GDP growth of 4.5% this year, up from the 4.2% last year, the Boao Forum for Asia said in its annual report summary on Tuesday.

The report titled "Asian Economic Outlook and Integration Progress” also said Asian growth is likely to be a standout in 2023 in light of the global economic slowdown.

Despite a deteriorating global labor market in 2023, the employment situation in Asia, particularly in East Asia, may turn out better than expected, according to the report. 

The Boao forum is being held until Friday in China’s southern resort island of Hainan.