Economic Impact of COVID-19 Outbreak on ASEAN

Muhamed Zulkhibri and Joy Blessilda Sinay

MPRA Paper from University Library of Munich, Germany

Abstract: This ASEAN Policy Brief examines the economic impact of the COVID-19 pandemic on the ASEAN region and outlines immediate and longer-term policy responses. The pandemic has severely disrupted economic activity, particularly in travel, tourism, retail, and supply chains, leading to significant downward revisions in growth forecasts and heightened financial market volatility. ASEAN Member States (AMS) responded with fiscal and monetary measures, including stimulus packages, tax relief, loan moratoriums, and central bank interventions, alongside regional coordination efforts. Looking ahead, the brief recommends mobilising all available policy tools, preserving productive capacity, maintaining supply chain continuity, leveraging digital technologies, strengthening social safety nets, scaling up regional pandemic responses, and advancing regional integration. These measures aim to restore confidence, mitigate economic and social damage, and position ASEAN for a resilient recovery

Keywords: ASEAN; Covid-19; regional integration; policy measures (search for similar items in EconPapers)
JEL-codes: E6 E66 F4 F42 F6 (search for similar items in EconPapers)
Date: 2020-04
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Published in ASEAN Policy Brief 1 (2020): pp. 1-17

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:126247

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