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COVID surge puts brakes on Thai and Malaysia growth: survey

Virus variants and US rate hike loom over ASEAN economies

Shipping containers await transport from a port in Bangkok, Thailand in March 2016.   © Reuters

TOKYO -- Economists are predicting a slowdown in the growth of Asian economies, including Thailand, Malaysia and India, as a surge in COVID-19 cases and contagious variants hinder recovery.

Thailand's economy is expected to show a meek 1.9% recovery in 2021 -- the lowest rate among major countries in Southeast Asia -- according to a survey conducted by the Japan Center for Economic Research and Nikkei in June. The quarterly consensus gathers outlooks from economists and analysts in India and the five largest economies of the Association of Southeast Asian Nations -- Indonesia, Malaysia, the Philippines, Singapore and Thailand.

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