Early responses to the health pandemic, including containment measures carried out by ASEAN Member States (AMS), have limited the spread of COVID-19. As the number of new cases declines, several AMS are now progressively relaxing some measures, such as community quarantine and travel restriction. The full socio-economic impact of the pandemic is yet to be determined, given the dual nature of the shock, the health crisis and the economic disruption, in the context of the global trends which might have further direct implication in the region.

The economic growth for AMS is estimated to experience a decline between 3.5 and 4.7 per cent for 2020, as forecasted by the World Bank. Small and medium enterprises, services and tourism sectors are among the most affected by lockdown and containment policies. In response, AMS governments have introduced stimulus packages, mobilizing both fiscal and monetary measures to help the poor, the vulnerable and all those affected cope with the pandemic and mitigate the economic impact.