Overseas Chinese Bank: Rising energy prices and declining import volumes are a "heavy blow" to economies in Asia.

Lavanya Venkateswaran, senior economist at OCBC Bank, stated that central banks in various Asian countries have taken a cautious approach when discussing the tense situation in the Middle East. She pointed out that the impact of rising energy prices and reduced imports of oil and natural gas is like a heavy blow to economies such as India, the Philippines, Thailand, and Vietnam. These economies are all net energy importers, and without subsidy policies, they will face increasing inflationary pressures. The governments of India, Thailand, and Vietnam can shift some of the subsidy burden outside the budget, but this merely postpones the problem. Meanwhile, Indonesia and Malaysia can mitigate the impact through fiscal buffer measures, but the duration and intensity of high oil prices will greatly affect their ability to sustain fiscal support measures.