Best Performing Economies in Southeast Asia | PHILIPPINES VIETNAM MALAYSIA : Q3 2022

Описание: The growth leaders in Southeast Asia are The Philippines, Vietnam, and Malaysia growing at an average rate of 7.8%, 8.8%, and 9.3% respectively in the 3 quarters of 2022. While the remaining major economies in the region also grow at a modest rate of 3.07% in Thailand, 4.3% in Singapore, and 5.4% in Indonesia.
The region is one of the best-performing economies in the world amid the global economic downturn, the possible economic recession in the US and European Countries, and the economic slowdown in China.
Asian Development Bank updated outlook for 2022 suggest that the Philippines and Vietnam will expand by 6.5%, and Malaysia by 6% for the whole year of 2022. However, the actual average growth of Malaysia, The Philippines, and Vietnam as of September this year ranges from 7.8 to 9.3%.
Other major economies in the region like Indonesia, Singapore, and Thailand are expected to grow by 5.4%, 3.7%, and 2.9% respectively. Among the minority economies, Cambodia is having the highest forecasted growth of 5.3%.
The growth in the region is expected to continue until next year, headed by Vietnam and the Philippines, expected to grow by 6.7 and 6.5%, followed by Malaysia at 4.7%. On average, the region will grow by 5% by 2023.
The regional inflation forecast is raised to 4.5% from 3.7% for 2022 and to 4% from 3.1% for 2023, due to higher energy and food prices. Despite the upward revisions, inflationary pressures in developing Asia are expected to remain less severe than elsewhere in the world. But headline inflation is expected to accelerate in all subregions, to varying degrees.


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