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Asean+3 to rebound strongly, but recovery outlook hazy, says AMRO

Recovery to depend on pace of vaccine roll-out, size of external demand, extent of economic scarring, it adds

Singapore

GROWTH in the Asean+3 region is expected to rebound strongly this year and moderate in the next, but the recovery will be highly contingent on the pace of vaccination programmes, the strength of external demand, and the extent of economic scarring caused by Covid-19, the Asean+3 Macroeconomic Research Office (AMRO) said on Wednesday.

The Asean+3 group includes all 10 members of the Association of Southeast Asian Nations, as well as China, Japan and South Korea.

In its annual Asean+3 regional economic outlook report, AMRO economists said the risks to a sustained recovery are now focused largely on those arising from the longer-lasting consequences of the pandemic - the inevitable "scarring"...

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