AMRO revises down ASEAN+3’s growth to 6.1 percent

Illustrative image (Photo: Reuters)

Hanoi (VNA) - The ASEAN+3 Macroeconomic Research Office (AMRO) has estimated that the ASEAN+3 region will grow by 6.1 percent this year and 5 percent in 2022 after posting flat growth in 2020, due to the third wave of COVID-19 infections triggered by Delta variant.

In its update to the annual ASEAN+3 Regional Economic Outlook (AREO) 2021 released on October 7, AMRO said China, Japan and the Republic of Korea will continue driving ASEAN+3 recovery with a growth of 6.9 percent this year.

In ASEAN, AMRO forecast that it will expand at a slower pace of 2.7 percent. Singapore will post the highest growth, with 6.3 percent, followed by the Philippines 4.3 percent, Malaysia 4.1 percent and Vietnam about 2.6 percent. Myanmar is the only country predicted to contract by 18.7 percent.

In 2022, Vietnam is expected to post the fastest growth in ASEAN+3 with 7.5 percent, ahead of the Philippines and Malaysia 6.7 percent, Cambodia 6.6 percent, Thailand 5.8 percent, Indonesia 5.6 percent and China 5.5 percent./.