ASEAN Economic Outlook: Prospects for Growth and Regional Cooperation
Organizers: Refinitiv, Economic Research Institute for Asean and East Asia, and Asian Development Bank
Date and time
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 policy making 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 coronavirus disease (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. The recent increase in the federal funds rate is another challenge that in the short run will raise the cost of borrowing for economies who need to continue priority spending to support the poor and vulnerable.
As we look to the future, there is still room for optimism the region will be able to counter these headwinds. 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.
During the webinar, the speakers will discuss:
- The economic outlook for the region
- The role of trade, trade disruptions, and trade agreements
- Financial connectedness and financial integration
- Challenges facing central banks in the region.
- Moderator: Nikita Puri, Investment Solutions Specialist, Refinitiv, an LSEG Business
- Opening Remarks: Winfried F. Wicklein, Deputy Director General, Southeast Asia Department, Asian Development Bank
- Henry Ma, Senior Country Economist, Indonesia Resident Mission, Asian Development Bank
- Anthony Tan, Deputy Group Head and Senior Economist, ASEAN+3 Macroeconomic Research Office
- Andrea Goldstein, Head of the Indonesia Desk, Organisation for Economic Co-operation and Development
- Anita Prakash, Senior Policy Advisor for International Economic Cooperation, Economic Research Institute for ASEAN and East Asia
- Zeno Abenoja, Managing Director, Department of Economic Research, Bangko Sentral ng Pilipinas
- Closing Remarks: Tiat Jin Ooi, Lead Consultant, Entrepreneurship, Start-ups and Innovation Knowledge Lab, Economic Research Institute for ASEAN and East Asia, and Founder and Principal Consultant, Curated Connectors