AMRO revises down ASEAN+3’s growth to 6.1%

Thursday, 2021-10-07 20:54:17
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NDO/VNA - The ASEAN+3 Macroeconomic Research Office (AMRO) has estimated that the ASEAN+3 region will grow by 6.1% this year and 5% in 2022 after posting flat growth in 2020, due to the third wave of COVID-19 infections triggered by Delta variant.

In its update to the annual ASEAN+3 Regional Economic Outlook (AREO) 2021 released on October 7, AMRO said China, Japan and the Republic of Korea will continue driving ASEAN+3 recovery with a growth of 6.9% this year.

In ASEAN, AMRO forecast that it will expand at a slower pace of 2.7%. Singapore will post the highest growth, with 6.3%, followed by the Philippines 4.3%, Malaysia 4.1% and Vietnam about 2.6%. Myanmar is the only country predicted to contract by 18.7%.

In 2022, Vietnam is expected to post the fastest growth in ASEAN+3 with 7.5%, ahead of the Philippines and Malaysia 6.7%, Cambodia 6.6%, Thailand 5.8%, Indonesia 5.6% and China 5.5%.