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Collective efforts needed for rebound in Asean’s growth, says AMRO

Amala Balakrishner
Amala Balakrishner4/8/2020 01:55 PM GMT+08  • 3 min read
Collective efforts needed for rebound in Asean’s growth, says AMRO
“The global tragedy of the Covid-19 pandemic reminds us of our collective destiny and challenges the region to demonstrate its resilience and commitment to come up with solutions that safeguard and strengthen our long-term interests,” says AMRO.
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SINGAPORE (Apr 8): The Asean + 3 Macroeconomic Review Office (AMRO) has slashed its 2020 growth forecast for Asean + 3 nations to 2%, from its previous prediction of 4.9%.

The macroeconomic watchdog which monitors Asean, Japan, China and Korea says the upgrade follows the uncertainty from the Covid-19 pandemic. However, it expects growth in the region to have a strong rebound to 5.5% in 2021 once the health and economic crises abate.

Meanwhile, Asean economies are expected to weaken sharply to grow at an average of 1.1% before recovering to 5.2% in 2021.

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