“Though there is a clear indication that a recession is due, Asia is expected to stand strong amid a gloomy outlook,” ICAEW said in its Economic Insight Forum for the fourth quarter of 2022.
PETALING JAYA: Asian economies are expected to see a gloomy start in 2023, but it would not be for long with Malaysia seen to be relatively resilient among Asean countries, says the Institute of Chartered Accountants in England and Wales (ICAEW).
ICAEW noted that experts and analysts have warned of an impending recession in 2023 with inflation affecting many countries globally, along with supply chain disruptions.
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