Malaysia, India Top Asian Growth Predictions for 2022

[ASEAN NOW Content Team]

 

According to recent surveys, economic activity in Malaysia and India, two of the nations most affected by Covid-19 outbreaks in recent months, is projected to rebound faster next year than previously predicted.

According to the most recent survey findings compiled by Bloomberg, Malaysia's GDP projection was improved by the most in the region — 85 basis points to a 5.65 percent expansion next year.
India came in second, with its GDP predicted to grow at 6.7 percent, which is 80 basis points quicker than the prior forecast.

 

Most Asian countries' growth estimates have been raised, with the exception of Thailand and New Zealand, which have had their outlooks lowered by at least 20 basis points, while Indonesia's outlook has remained unchanged.

Malaysia, which just had one of the world's highest daily new infection rates and a leadership change, is not facing any immediate economic consequences.
The economy's success was aided by improved domestic demand and sustained strong exports, as the GDP increased 16.1 percent in the second quarter.

 

India is on track to have the world's fastest growth in the year to March, with new weekly infections plummeting to their lowest level in over six months as of Sunday.
According to Madhavi Arora, head economist at Emkay Global Financial Services Ltd, the country's economic losses have been minimal so far, and it will be strengthened by factors such as better-adapted enterprises, stable financial conditions, and powerful global growth spillovers.