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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

Annabeth Leow

Annabeth Leow

Published Thu, Mar 17, 2022 · 05:50 AM
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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.

The varying impact of Omicron on growth forecasts ranges from downgrades of 1.9 points in Vietnam and 1.1 points in Thailand, to just 0.…

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