Fitch unit: Delta is biggest threat to Asian economies


Source: philstar.com philstar.com

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MANILA, Philippines – This year, the hyper-contagious Delta variant is likely the biggest threat to Asian economies like the Philippines, which is seeing a renewed surge in cases. In a commentary emailed to reporters on Monday, Fitch Solutions, a unit of the Fitch Group, said emerging Asia’s economy is forecast to grow 7.8% this year, slower than earlier projection of 7.9%. Broken down, Fitch Solutions said markets like Indonesia, Thailand and the Philippines saw the largest downward revisions this year “amid their significantly worse outbreaks since the onset of the pandemic and relatively low vaccination rates.” Earlier, the Fitch unit...