Asean+3 outlook softens despite unchanged growth forecast as oil risks rise - AMRO
The ASEAN+3 growth outlook has weakened despite an unchanged headline forecast due to elevated oil prices and escalating West Asia tensions, according to AMRO. The region's growth projection remains at around 4% this year, but the figure masks a softer underlying trajectory.
The ASEAN+3 Macroeconomic Research Office (AMRO) has reported a weakened growth outlook for the region despite an unchanged headline forecast. AMRO Group head and lead economist Allen Ng stated that the grouping's growth projection remains at around 4% this year. Elevated oil prices, expected to stay above $90 per barrel until June, and escalating West Asia tensions are raising downside risks to the regional economy. The region, including Malaysia, has entered this episode from a position of strength, supported by resilient growth momentum and stable inflation. Ng highlighted that no economy would be immune to the broader impact of the conflict, and policymakers face the dual challenge of managing near-term shocks while strengthening long-term resilience. Malaysia, as a net energy exporter, is relatively better positioned compared to some regional peers.
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