Watch AREO 2023 Update: ASEAN+3 Growth Momentum to Remain Intact as Risks Recede
Watch the highlights of the ASEAN+3 Regional Economic Outlook Update – July 2023.
Watch the highlights of the ASEAN+3 Regional Economic Outlook Update – July 2023.
Here are five key takeaways from AMRO’s July update of the ASEAN+3 Regional Economic Outlook.
The ASEAN+3 Macroeconomic Research Office (AMRO) maintained its short-term growth forecast for the ASEAN+3 region in its July quarterly update of the 2023 ASEAN+3 Regional Economic Outlook (AREO).
ASEAN+3 Growth Momentum to Remain Intact as Risks Recede. Presentation by AMRO Chief Economist Hoe Ee Khor.
The Lao PDR’s economy is expected to maintain its recovery from the COVID-19 pandemic in 2023. However, currency depreciation and surging inflation are challenges to sustaining the economic recovery.
Singapore’s economic growth is expected to moderate to around 1.3 percent in 2023, led by resilient domestic consumption and continued growth in inbound tourism.
Malaysia’s growth is projected to moderate to 4.2 percent in 2023 against the backdrop of a global growth slowdown.
Economic activities in Brunei Darussalam have picked up since mid-2022. Thanks to high vaccination rates, daily new cases of COVID-19 have declined sharply since April 2022, enabling containment measures and border restrictions to be lifted.
Brunei Darussalam is expected to record a negative growth of 1.2 percent in 2022. The weak growth in 2022 mainly reflects the unexpected downturn in the upstream O&G production in H1 2022.
The Indonesian economy posted a firm recovery in 2022, led by strong domestic demand and robust exports. Economic growth will likely remain strong at 5.0 percent in 2023.