The growth of the ASEAN+3 economy is estimated at 4.6 percent

JAKARTA, April 7 (Prensa Latina) The economy of the Association of Southeast Asian Nations, China, Japan and South Korea (ASEAN + 3) could grow by 4.6 percent this year, according to expert estimates released today in this capital.

This projection was made by the Regional Bloc’s Macroeconomic Research Office, according to which in 2024 there could be a slight decrease and an annual rise of 4.5 percentage points.

Despite strong headwinds from weaker external demand and tighter global financial conditions, the ASEAN+3 region is expected to remain resilient, according to ASEAN+3 economist Hou E. Khor.

On the other hand, the expert added that tourism and intra-trade will be boosted by the recovery of the Chinese economy, which will help mitigate weak external demand from the United States and Europe.

The report added that domestic demand is expected to remain strong and household spending to continue through higher incomes and lower inflation.

According to the same Bureau of Macroeconomic Research, inflation will ease in the reference area from 6.5 percent last year to 4.7 in 2023, before returning to three percent in 2024.

Regarding the economic prospects of Vietnam, and in statements to the VNA news agency, Khor was very optimistic and noted that this is one of the countries in the region that is capable of achieving remarkable progress by achieving a very high growth rate and attracting a lot of foreign direct investment. .

In the expert’s view, Vietnam’s GDP growth could range from 6.5 to 7 percent in the second half of this year, after closing the first quarter up only 3.2 percentage points.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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