India expected to show faster economic recovery in 2022

Economic activity next year in Malaysia and India, two of the countries most affected by Covid-19 outbreaks in recent months, is expected to recover faster than earlier forecast, latest surveys show.

Malaysia’s growth outlook was upgraded by the most in the region — 85 basis points to an expansion of 5.65% next year, according to the latest survey results compiled by Bloomberg. India was a close second, with its economy expected to grow 6.7%, 80 basis points faster than previously seen.

Economists have raised their growth projections for most Asian countries, except Thailand and New Zealand, which saw their outlooks slashed by at least 20 basis points, while Indonesia’s outlook was little changed.

Malaysia, which posted one of the world’s highest daily new infection rates over the past month and underwent a leadership change, doesn’t face any immediate economic risks. The economy’s performance was supported by improvement in domestic demand and continued robust exports, as the second-quarter gross domestic product grew 16.1%.

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