With the region severely affected by containment measures, the ASEAN+3 Macroeconomic Research Office (AMRO) has said growth is forecast to decline by 0.3 per cent in 2020. Further, nine of 14 members are expected to contract this year, some very significantly.;
“We are projecting a strong V-shaped recovery in GDP growth in 2021, particularly for the Plus-3. The region as a whole is projected to expand at 6.7 percent, with all economies forecast to return to positive growth—predicated on the effective containment of the pandemic, both regionally and globally, and on the assumption that exits from policy measures proceed smoothly,” said AMRO in its latest revised forecast for the Asean+3 economies.