Jakarta, CNBC Indonesia – The recession due to the continuing war between Russia and Ukraine, monetary tightening and the cost of living crisis have meant that the International Monetary Fund (IMF) has again cut its projections for world economic growth next year.
The IMF estimates that the world economy will grow only 2.7% in 2023, lower than the previous projection of 2.9%.
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Of all regions, the IMF noted that Southeast Asia’s economy will still grow above 4% in 2023, compared to Europe which is expected to fall to 0.6% and North America by 1%. next year.
Meanwhile, Southeast Asia, which in the IMF’s calculations is represented by five countries or Asean-5 – Indonesia, Thailand, Vietnam, the Philippines and Malaysia – is expected to grow 4.9% in 2023.
This growth was revised down from 5.1%. However, it is still the highest among the other regions.
“For the ASEAN-5 countries, the growth projections in 2023 have been revised downwards to reflect mainly unfavorable external conditions, with slower growth in major trading partners such as China, the euro area and the United States,” wrote the IMF in its World Economic Outlook. WEO) quoted (12/10/2022).
Meanwhile, the contributors to growth in this region are Indonesia and the Philippines, each of which is estimated to grow by 5%. Also, there is Vietnam which is expected to grow 6.2% next year.
All three will grow beyond China, which is expected to grow by only 4.4% next year.
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