Emerging Asia output to stay subdued in ’21

12 February, 2021 12:00 AM printer

SINGAPORE: Economic output is unlikely to return to pre-pandemic levels across most emerging Asia economies this year, the Organisation for Economic Co-operation and Development (OECD) said.

For many governments, the key focus this year will be stabilising budget deficits and debt burdens and, in some cases, debt servicing cost. External funding risks will remain the overriding concern for many liquidity-strained governments in the region, it said at a recent webinar, report agencies.

Unveiling “The Economic Outlook for South-east Asia, China and India 2021 - Reallocating Resources for Digitalisation”, the Asia Desk of the OECD Development Centre which prepared the report said the average Asean real gross domestic product (GDP) growth in 2021 is projected at 5.1 per cent, following an anticipated contraction of 3.4 per cent for 2020.