Economies in the Asia-Pacific are forecast to hit the doldrums this year as decades-high inflation and the war in Ukraine add to uncertainty and the aftereffects of the pandemic.
FILE - A Muslim couple wearing face masks to help curb the spread of the coronavirus shop for clothes at in Kuala Lumpur, Malaysia, on Monday, May 11, 2020. Economies in the Asia-Pacific are forecast to slow sharply this year as decades-high inflation and the war in Ukraine compound geopolitical uncertainties and the aftereffects of the pandemic.
Weaker growth in the U.S. and China is a big factor behind the regional malaise, though other economies are also slowing. Russia's economy is expected to contract due to the implications of its war in Ukraine, and the three economies account for nearly 70% of the APEC region's GDP, the report said.Most economies in the region are just beginning to fully emerge from border closures and other pandemic-related precautions.
Japan's economy shrank at a 0.5% annual rate i n January-March and is forecast to expand only 2% in the fiscal year ending in March 2023.Indonesia reported Friday that its economy grew at a better-than-expected 5.4% annual rate in the April-June quarter as it bounced back from a wave of omicron variant coronavirus infections.
Indonesia Berita Terbaru, Indonesia Berita utama
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