Asia-Pacific economies will outstrip their global peers this year and next, according to Moody’s Investors Service. But the rebound masks deep scars from the Coronavirus pandemic, according to the world’s biggest ratings company.
“We forecast about 30 percent of APAC economies will face a modest degree of scarring, experiencing an output decline of between 2 percent and 8 percent below our pre-pandemic forecast Gross Domstic Product (GDP) levels by 2023. These include mainly lower-to-upper middle-income economies and those struggling to contain a virus resurgence, such as Malaysia, Indonesia and Thailand,” said Moody’s analyst Deborah Tan.
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