BLOGS



Indonesia is expected to introduce new measures to stimulate GDP growth as Jokowi’s second term starts soon – which includes labour, infrastructure and tax reforms.
Due to economic slowdown and strengthening baht, Bank of Thailand had cut its benchmark interest rate to 1.5%. Thailand economy forecasts Thai GDP to grow by 3.3%.
The digital economy in ASEAN is expanding faster than predicted, with the e-commerce market value to exceed Google’s forecasted US$200 billion by 2025.
Philippine economy is projected to expand up to 7% due to strong government spending, lower inflation rate and more. WB forecasts Philippines GDP at 6.4% in 2019.
Singapore economy finds its manufacturing sector contract by 0.4 points to 49.9 points (PMI index), the first contraction after 2.5 years of manufacturing growth.
Vietnam economy is expected to exceed Singapore’s in 10 years time. In fact, Vietnam grew by 7.1% last year, the fastest growth rate among ASEAN countries.
Malaysia economy expands above the forecasted growth rate for Q1 2019 at 4.5%. Malaysia is also likely to regain its Asian Tiger status by 2021 as it grows steadily.
Myanmar economy is expected to rebound to 6.5% despite slow growth last year. Reasons for slow growth include weak export demand and a fragile banking sector.
There are two major challenges that ASEAN face which prevents the region to fully integrate economically — custom cooperation and financial infrastructure.
BoT predicts Thailand GDP at 3.9% due to strong domestic demand and poor exports. There are four key factors Thailand should keep in mind to drive economic growth.
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