Moderate outlook for Asean-5 economies

Westports in Pulau Indah.

THE five largest economies in South-East Asia that make up the so-called Asean-5 – namely Malaysia, Indonesia, Thailand, Singapore and the Philippines – are likely going to experience flattish, if not slower, growth this year despite the world’s economy continuing to pick up steam.

A newly-published report by the Asian Development Bank (ADB) states that economic growth in Asean-5 is expected to remain flat at 5.2% this year due to sluggish domestic demand arising from idiosyncratic domestic shocks, before accelerating to 5.6% in 2015 on further recovery in exports and investments.