ASEAN Economic Outlook: Prospects for Growth and Regional Cooperation

After a challenging couple of years, there are signs that Southeast Asia is rising from the pandemic. In 2021, output growth in the region rebounded to 2.9% with projections to further strengthen to 4.9% in 2022 as the region continues to recover, helped by high vaccination rates and a sustained global economic recovery.

However, global headwinds will continue to make policymaking difficult. The long term effects of the pandemic continue to disrupt global trade and supply chains and place stress on the labor supply through prolonged unemployment and the potential of new more transmissible COVID-19 variants emerging. On top of this, recent geopolitical events have raised inflation in the region through elevated oil, commodity and food prices that could impact consumption, exchange rates, and the current account balance in the region. In addition, the recent increase in the federal funds rate is another challenge that in the short run will raise the cost of borrowing for economies that need to continue priority spending to support the poor and vulnerable.

As we look to the future, there is still hope for optimism in the region that may counterbalance the challenges. A focus on building partnerships to invest in green infrastructure, reduce carbon emission, and improve the sustainability and conservation of the region’s oceans, water bodies, and marine ecosystems offer prospects for growth. Join this webinar to discover the prospects for growth in Southeast Asia, and the importance of trade and financial integration.

During the webinar, our speakers will discuss:

• Economic outlook for the region
• The role of trade, trade disruptions, and trade agreements
• Financial connectedness & financial integration
• Challenges facing central banks in the region