Apec forecasts 5.7% economic growth this year amid challenges


Despite the slight uptick in 2020’s economic growth and a relatively optimistic outlook for 2021 and 2022, the report noted that growth would be uneven across Apec economies, with the speed and strength of the recovery largely determined by the effective management of the pandemic and successful vaccination programmes

PETALING JAYA: The Asia-Pacific Economic Cooperation (Apec) is forecasting the region’s economy to expand 5.7% this year and 4.1% in 2022, but growth is expected to be uneven.

The Apec Policy Support Unit, in an update of its Regional Trends Analysis, is also estimating a lower regional economic contraction of 2% in 2020 – an improvement from the forecast of a 2.5% decline it made in November last year.

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Apec , economy , vaccination , stimulus ,

   

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