Monthly Regional Update (April 2021)
16 April 2021
Regional Economic and Policy Developments in April
ASEAN would grow slower than expected given resurgence in COVID-19 cases; herd immunity could be game changer

Cambodia: Surging virus cases and slow vaccination could delay recovery, but growth outlook remains positive
Lao PDR targets 4% p.a. growth over 2021-2025 driven by services sector, but tourism sector remains weak
Myanmar’s political crisis would lead to a sharp drop in GDP in 2021 and dampen longer term outlook
Vietnam’s GDP grew 4.5% YoY in 1Q21; outlook remains strong, outperforming ASEAN peers
Indonesia prepares to welcome foreign tourists starting with Bali; targets full reopening by April 2022
Philippines: New high in daily COVID-19 cases will dampen consumption amid limited fiscal space, disrupting recovery

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