The ASEAN+3 Macroeconomic Research Office (AMRO) on April 12 published its annual ASEAN+3 Regional Economic Outlook (AREO) 2022 which forecasts the region’s growth at 4.7 percent this year and 4.6 percent in 2023, with growth for ASEAN at 5.1 and 5.2 percent, respectively.
Jakarta (VNA) - The ASEAN+3 Macroeconomic Research Office (AMRO) onApril 12 published its annual ASEAN+3 Regional Economic Outlook (AREO) 2022which forecasts the region’s growth at 4.7 percent this year and 4.6 percent in2023, with growth for ASEAN at 5.1 and 5.2 percent, respectively.
The growth outlook is underpinned by the region’s highvaccination rates, which should help mitigate the health risks of COVID-19, the report said.
Economists said that within ASEAN+3, financial risks arestill elevated in many economies due to the pandemic. Macro-financial policiescontinue to focuse on alleviating the pandemic’s impact on households andfirms and supporting an economic recovery. If the recovery is delayed, morebusinesses and individuals could come under financial stress.
According to the report, the war in Ukraine is an emergingrisk to the outlook. Its effects are already being felt in the region throughhigher energy prices. While ASEAN+3 economies have limited direct exposure toRussia and Ukraine, they will not remain unscathed if the war drags on. Theeconomic fallout - disrupted global supply chains, higher global inflation, andlower global growth - would undoubtedly hurt ASEAN+3 exports and growth.
In addition, soaring inflation in the United States hasprompted the US Federal Reserve to begin tightening monetary policy, butuncertainty remains as to how aggressive its approach will be.
Given the less supportive global policy settings in 2022,the region’s policymakers will have to undertake a crucial balancing act, avoidinga premature withdrawal of policy support to sustain the recovery, while at thesame time facilitating the reallocation of capital and labour to new andexpanding sectors and restoring policy space to prepare for future risks, saidAMRO Chief Economist, Dr. Hoe Ee Khor./.
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The Association of Southeast Asian Nations (ASEAN) and China reaffirmed their commitment to further strengthen their partnership and cooperation in line with the ASEAN-China Comprehensive Strategic Partnership (CSP) established last year, as officials of both sides gathered at the 23rd ASEAN-China Joint Cooperation Committee Meeting on April 5.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
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The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Illustrative image (Photo: VNA) 
