Economy may grow as much as 6% this year, Moody’s Analytics says

Asia-Pacific economies will bounce back this year after global trade started to recover in the fourth quarter of 2021, according to Moody’s Analytics, with Cambodia’s growth rising as high as 6 percent helped by a tourism revival and rising exports. Uncertainties remain due to the continued impact of the Coronavirus pandemic but Covid-related volatility will diminish over time, according to Chief APAC Economist Steve Cochrane.

Regional growth slowed to an annualised 1.8 percent in the third quarter of last year but rebounded in Q4 after Coronavirus cases peaked.

“The  pattern of rapid rise and an equally rapid fall of Omicron’s wave elsewhere illustrates that any impact in APAC will also be of shorter duration and less severity than the Delta wave of last year’s third quarter. So far steep surges of Covid-19 cases driven by the Omicron wave are evident in Australia and the Philippines,” Cochrane said.

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