NEW YORK -- Asia will contribute roughly 60% of global economic growth this year, the International Monetary Fund said Thursday, upgrading its view on the region as momentum stays strong.

Overall, the region is projected to grow 4.5% this year -- up 0.3 percentage points from the October forecast -- before slowing to 4.3% growth in 2025, according to a regional economic outlook presented by the IMF's Asia and Pacific Department.