Indonesia's successful economic performance is largely thanks to the government’s strong macro-economic policy framework, which helps attract investment, World Bank (WB) Director for Indonesia and Timor-Leste Carolyn Turk said on June 24.
The Siam Commercial Bank (SCB)’s Economic Intelligence Centre (EIC) has readjusted up its projection for Thailand’s GDP growth at 3% this year and 3.7% in 2023, thanks to the recovery of tourism and private consumption.
Credit rating agency Fitch Solutions has revised up Malaysia's 2021 economic growth forecast to 1.5 percent from zero percent as the COVID-19 situation in the Southeast Asian country has improved.
The Philippines’s gross domestic product (GDP) shrank 9.5 percent in 2020 due to severe impact caused by the COVID-19 pandemic, according to the Philippine Statistics Authority (PSA).
Thailand’s economy expanded at the slowest pace in almost five years in the second quarter of 2019 as exports and tourism deteriorated due to impacts from the US-China trade war and the strong baht.
The Philippines’s economy is poised to grow at 6.4 percent in 2019 and 6.5 percent in 2020-2021 amid lingering global and local uncertainties, according to a report released by the World Bank (WB) on April 1.
The Thai economy continues to gain further traction from both domestic and external demand, the central bank of Thailand (BOT) said in its press release on economic and monetary conditions in August.
With a debt mountain of 12.17 trillion THB (372 billion USD), or 77.6 percent of the national GDP at the end of March, Thai households are among the biggest borrowers in Asia, and they find it difficult to keep up with payments.
Vietnam's economy is forecasted to expand by 6.8 percent in 2018, 6.6 percent in 2019 and 6.5 percent in 2020, according to the World Bank (WB)’s Global Economic Prospects.
The latest data of the Bank of Thailand (BoT) shows the country’s economic recovery is still uneven as private consumption and exports rose in May while investment fell compared to the previous month.
Thai Government Spokesman Lt. Gen. Sansern Kaeokamnerd has confirmed the country’s economy has expanded continuously, with key economic indicators improving throughout the year.
Vietnam still enjoys strong growth prospects among the large developing ASEAN economies though its economic growth is expected to moderate to 6.2 percent in 2016, the World Bank (WB) says.
