Tuesday, July 5, 2022 12:34:40 PM - Markets open
VN-INDEX 1,191.03 -4.50/-0.38%
HNX-INDEX 279.15 -2.04/-0.73%
UPCOM-INDEX 86.88 -1.02/-1.16%
ASEAN+3 economic prospects positive in 2022
Vietnam News - 1/26/2022 3:12:27 PM
 (0 ratings. You must sign in to rate.)
 Economic prospects for ASEAN+3 (Association of Southeast Asian Nations plus China, Japan and Korea) look promising in 2022, despite challenges from the COVID-19 pandemic and the global economy, according to a report published on Tuesday by the ASEAN+3 Macroeconomic Research Office (AMRO). 
 
Việt Nam's GDP has been forecast to be among the fastest-growing this year at 7.5 per cent from the previous year, well above the bloc's average at 4.9 per cent.
 
AMRO points out that the emergence of the Omicron variant towards the end of 2021 brought new uncertainties and set back the progress of economic re-opening. However, high vaccination coverage has mitigated the risk of nationwide lockdowns, as experienced during the early days of the pandemic.
 
“The ASEAN+3 region has sufficient policy space to navigate through these new challenges, and stay on its recovery path,” says AMRO’s Chief Economist, Dr Hoe Ee Khor.
 
“A resurgence of infections continues to be the key downside risk, amplified by lingering global supply chain disruptions and rising global price pressures,” adds Dr Khor. “While the rise in global inflation is likely to prompt major advanced economies to roll back extraordinary monetary support earlier or more sharply than anticipated, the spillover effects for the region is likely to be limited because of greater resilience.”
 
AMRO maintains a positive outlook on ASEAN+3 economies for 2022, with regional GDP growth of 4.9 per cent and inflation remaining relatively low at 2.9 per cent for the year.
 
AMRO’s baseline 2022 GDP growth forecast for the ASEAN+3 region assumes a continued improvement in the global economy, but at a slower pace due to the Omicron variant. AMRO has kept broadly unchanged its GDP growth projections for the Plus-3 economies of China; Hong Kong, China; Japan and Korea. Forecasts for six of the 10 ASEAN economies have been revised only slightly downwards. Inflation for the ASEAN+3 economies should rise slightly higher than AMRO’s last forecast in October 2021, but consumer price rises will stay relatively low when compared with other regions globally.
 
The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organisation established to contribute towards securing the macroeconomic and financial stability of the ASEAN+3 region, comprising 10 members of the Association of Southeast Asian Nations (ASEAN) and China; Hong Kong, China; Japan; and Korea. — VNS
 
Read original article here
 
Newer News
23/03 Policymakers fear high inflation and unemployment
17/03 Current global inflation a worrisome situation
Older News
30/12 Cryptocurrency continues to be attractive investment channel next year
13/08 Biden, Harris vow to 'rebuild' America post-Trump
05/01 Game-changing strategy for smart manufacturers
25/11 G7 wrestles with Iran, Amazon fires and trade, but own unity shaky
01/08 US Fed cuts key interest rate to 'insure' against global uncertainties
13/06 World Bank offers new credit to develop urban centres
27/05 Trump becomes first foreign leader to meet Japan's new emperor
23/05 Prime Minister arrives in Russia, beginning official visit
13/05 US-China trade talks resume, Trump says deal still 'possible'
09/05 As trade truce collapses, US, China scramble to revive a deal
 
Newsletter Signup
Top Stories
Vietnam’s CPI up 2.44% in six months
HPG: Hoa Phat wants to invest big in two infrastructure projects
Legal framework for securities, corporate bond investment, business strengthened: SBV Governor
Steel prices cool down as input costs drop
Why the stock market sell-off when VN’s economy is strong?
Market Update
Last updated at 12:25:01 PM
VN-INDEX 1,191.03 -4.50/-0.38%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.