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Economic Impact of COVID-19 Outbreak on ASEAN

Author

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  • Zulkhibri, Muhamed
  • Sinay, Joy Blessilda

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

Suggested Citation

  • Zulkhibri, Muhamed & Sinay, Joy Blessilda, 2020. "Economic Impact of COVID-19 Outbreak on ASEAN," MPRA Paper 126247, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:126247
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    File URL: https://mpra.ub.uni-muenchen.de/126247/1/MPRA_paper_126247.pdf
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    Keywords

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    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F6 - International Economics - - Economic Impacts of Globalization

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