In its latest analysis report released Tuesday, US-based Moody’s Investors Service noted that Asia-Pacific region continues to drive global growth after coronavirus pandemic-induced recession.
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“All Asia Pacific economies except the Philippines, Thailand and Malaysia are expected to recover beyond their pre-pandemic levels by the end of 2021“.
“All Asia Pacific economies are projected to post record growth in 2021. As of March 11, Moody’s Analytics forecasts that India registers the strongest growth of 12%, followed by China (8.3%) and Vietnam (7.5%)“.
“In the second half of the year, the region is expected to be supported by increased immunity and less social distancing, along with the emergence of Covid-19 restrictions in North America and Europe, which will drive global spending. “
“The recovery of international trade, supportive fiscal policies, and measures to manage COVID-19 are other factors working in favor of the Asia-Pacific region.”
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