Published: 6 Jan 2025
Author: Jayant Menon
The region is finally showing clear signs of recovery from the multi-year pandemic but 2025 portends more serious headwinds against which regional governments and businesses will have to steer.
Although the COVID-19 pandemic lockdowns may be a distant memory for many, their impact continued to shape recovery in Southeast Asia in 2024. According to the Asian Development Bank’s (ADB) September 2024 Outlook, Southeast Asia is expected to grow by 4.5 per cent in 2024 and 4.7 per cent in 2025, with the Philippines, Vietnam and Cambodia growing fastest. While Indonesia, Malaysia, Thailand and the Philippines returned to their pre-pandemic (2019) rates of growth, the poorest members of ASEAN — Cambodia, Laos and Myanmar (CLM) — appear to have settled at a lower trend growth rate.
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