Azlan Othman
The ASEAN+3 Macroeconomic Research Office (AMRO) and Asian Development Bank (ADB) yesterday held a webinar on ‘Economic Recovery in ASEAN+3: New Drivers of Growth and Optimism’.
The webinar highlighted two new publications – ADB’s Post-COVID-19 Economic Recovery in Southeast Asia and AMRO’s ASEAN+3 Regional Economic Outlook 2022: ASEAN+3 Growth Strategy in the Pandemic’s Wake.
“This webinar was a side event of the 25th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting. The meeting discussed pandemic policy support, new growth opportunities and regional cooperation. As the region’s policy advisors, ADB and AMRO organised this forward-looking webinar to continue the ASEAN+3 Ministers and Governors’ conversation on new drivers of growth in the wake of the pandemic,” said AMRO Director Toshinori Doi.
More than two years into the COVID-19 pandemic, economic recovery is beginning to gain momentum in the ASEAN+3 region. The webinar focussed on several themes critical to economic recovery in the region, including scarring effects of the pandemic and new sectoral growth drivers at the regional and country levels.
“COVID-19 has been both a major disruptor and a catalyst for change. After two years and counting, some extent of scarring is unavoidable, although it will take different forms in different economies and some will be more affected than others.
“On the other hand, the pandemic has spurred innovation in sectors such as retail, finance, and healthcare, which might lift the region’s economies in the long run towards higher productivity-driven growth,” said AMRO Group Head and Lead Economist for Regional Surveillance Ling Hui Tan.
