In Kuala Lumpur, Malaysia (Photo: Xinhua) Hanoi (VNA) - Economic activity in Malaysia and Indianext year is expected to recover faster than previously forecast, althoughthese two countries have been among those hardest hit by the COVID-19pandemic in recent months.
Survey results showed that Malaysia's economic growth outlook isrevised up the most in the region, with 0.85 percent, to an expected growthrate of 5.65 percent next year. India was a close second, with its economyexpected to grow 6.7 percent, 80 basis points faster than previously seen.
Economists have raised their growth projections for most Asiancountries, except Thailand and New Zealand, which saw their outlooks slashedby at least 20 basis points, while Indonesia’s outlook was little changed.
Malaysia, which posted one of the world’s highest daily new infectionrates over the past month and underwent a leadership change, doesn’t face anyimmediate economic risks.
Improved domestic demand and increased exports supported the economicactivity and GDP of the country in the second quarter of 2021 increased by16.1 percent.
Strong demand is keeping India on track to achieving the world’sfastest growth in the year to March, with new weekly infections dropping tothe lowest in more than six months as of September 19.
The country’s economic losses have been limited so far, and it willbe boosted by factors such as better-adapted firms, stable financialconditions and robust global growth spillovers, said Madhavi Arora, leadeconomist at Emkay Global Financial Services Ltd./.
VNA
