As Asean economies continue their path to safely reopening and getting back to business, they must also manage growing economic challenges and identify how best to seize new opportunities for a resilient, inclusive, and sustainable recovery.
The first challenge is the Russian invasion of Ukraine which has caused tremendous suffering and sent shockwaves across the global economy. Asean's direct exposure to Russia and Ukraine through trade and investment appears limited. But with the price of oil surging to its highest levels since 2008, inflation is heating up. the bloc's net oil importers face substantial challenges with rising import bills. Food security and fragile supply chains are at greater risk too.
