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Jakarta Post

INSIGHT: ASEAN monetary authorities brace for uncertain 2017

  • Jaysa Rafi Prana
    Jaysa Rafi Prana

    Research associate and officer of the policy department at the Economic Research Institute for ASEAN and East Asia

PREMIUM
Jakarta   /   Wed, March 15, 2017   /  08:46 am
INSIGHT: ASEAN monetary authorities brace for uncertain 2017 Stock Boards At Asia Plus Securities (Bloomberg/File)

ASEAN members must remain vigilant to ensure a stable 2017 follows their solid 2016, and are cautiously observing the latest developments in the world economies, particularly in the United States, China and Europe. In 2016, ASEAN’s economies posted healthy economic data, with good gross domestic product (GDP) growth and relatively low inflation. Focusing on the threelargest markets in the region, which together make up approximately 65 percent of the ASEAN economy, Indonesia posted 5 percent growth in 2016, Malaysia 4.2 percent and Thailand 3.2 percent. But this year, ASEAN nations must brace themselves for a series of potential shocks from across the globe, while maintaining stability and also factoring in several domestic economic weak spots. From the US, a tightening of monetary policy, a shift toward protectionist trade policies and expansionary fiscal policies could h...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.