ECONOMISTS have trimmed ASEAN-6 gross domestic product (GDP) growth forecast to 4.5 per cent in 2026 from 4.8 per cent, and to 4.7 per cent in 2027 from 4.8 per cent, due to the fallout of the conflict in the Middle East.
The ASEAN-6 nations refer to Indonesia, Singapore, Thailand, Vietnam, the Philippines, and Malaysia. Maybank Investment Bank said in a recent note that the downgrades are larger for the Philippines (-0.4 percentage points), Vietnam (-0.4 percentage points) and Thailand (-0.3 percentage points).
“Surging energy prices and disruptions to commodity supplies will be negative for most ASEAN countries, which are net oil and gas importers,” said the research house. A c c o r d i n g t o Maybank, Malaysia is the only country in the region that stands out as a net energy exporter, which will help cushion the impact of the Middle East shock.
Xinhua
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