Omicron spread could pare S-E Asia growth forecasts by up to 0.8 percentage point: ADB
The downside scenario could occur if Covid variant disrupts supply and demand for 6 months, report adds
Singapore
SOUTH-EAST Asia's economy is expected to expand by 5.1 per cent in 2022 - but the spread of the Omicron virus variant could shave up to 0.8 percentage point off this estimate, the Asian Development Bank (ADB) warned in a new report.
The downside scenario could occur if Omicron disrupts supply and demand - and thus affects economic activity - for 6 months. Vietnam, Thailand, Malaysia and Laos are the most vulnerable markets.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
Top US Treasury official to travel to Singapore, Malaysia to discuss sanctions
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected
Indonesia central bank says SRBI auction will be held twice a week to attract more inflow
Thai police raid illegal bitcoin mining operation
Thailand’s April inflation rises slightly, first time in 7 months