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Economy

India and ASEAN set to return to growth in early 2021: JCER

Survey shows curbing COVID and income support keys to economic recovery

Stacks of containers are seen at Tanjung Priok port amid the coronavirus outbreak in Jakarta, Indonesia, Aug. 3.   © Reuters

The outlooks for Asian economies have further deteriorated in the last three months as the coronavirus pandemic has continued increasing.

Economists of five Southeast Asian countries and India have again revised downward their projections for 2020 or fiscal 2020/21, which had already fallen into the negative in the June survey. Restrictions on activities have weakened domestic demand, and the unclear future of the pandemic has deteriorated business sentiment. Recoveries are expected after 2021, but they depend largely on the control of COVID-19, a survey found.

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