The downgrade for 2022 follows the spread of the “highly transmissible” Omicron variant which has seemingly necessitated the reimposition of containment measures including a retightening of border controls.
The Asean + 3 Macroeconomic Review Office (AMRO) is expecting countries in the Asean + 3 region to grow by 4.9% this year, a slight edge down from the 5.9% it had previously predicted in October 2021.
For 2021, AMRO is looking at a flat growth rate.
