Keyword: "economic growth forecast"

The Asian Development Bank (ADB) has revised its economic growth forecast for developing Asia slightly up thanks to stronger domestic demand and export growth.

The ASEAN+3 Macroeconomic Research Office (AMRO) revised Vietnam’s economic growth forecast upward to 6.3% for 2024 in its latest update released on July 16.

The University of the Thai Chamber of Commerce (UTCC) cut its 2023 economic growth forecast for the country to 2.5% from the previous prediction of 3%, while anticipating a growth rate of 3.2% for 2024.

The World Bank maintained its economic growth forecast for Cambodia at 5.5% in 2023 in its East Asia and Pacific economic update report released on October 2.

HSBC has raised Vietnam’s growth forecast from 7.6% to 8.1% this year but revised down the forecast for next year from 6% to 5.8%.

The International Monetary Fund (IMF) has raised Malaysia’s economic growth forecast for the year from 5.1% to 5.4% in its latest World Economic Outlook report.

The International Monetary Fund (IMF) has downgraded its economic growth forecast for Indonesia in 2022 to 5.4 percent, 0.2 percent lower than its previous projection.

Indonesia’s economy has rebounded from the recession as consumers and businesses resumed activities and a global economic recovery boosted exports, according to insiders.

The International Monetary Fund (IMF) has downgraded Indonesia's 2022 economic growth forecast to 5.6 percent in 2022, from 5.9 percent in its October report, due to the spread of the Omicron variant and slower global economic growth.

Thailand on August 16 downgraded its economic growth forecast for 2021 as the country is battling its worst COVID-19 wave, which has brought record numbers of new infections and deaths.

The Finance Ministry of Thailand has revised down its economic growth forecast in 2021 for the third time to 1.3 percent from 2.3 percent predicted earlier as the country is struggling with COVID-19.

Bank Indonesia (BI) has cut its 2021 economic growth forecast range for the Southeast Asian country to between 3.5-4.3 percent from 4.1-5.1 percent previously.

The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) of Thailand has decided to lower the national economic growth forecast for the year to 0 - 1.5 percent from the earlier projection of 0.5 - 2.0 percent, due to a prolonged third wave of COVID-19 infections.

The Indonesian government has slashed the country’s growth projection in 2021 to 3.7 - 4.5 percent from the earlier prediction of 4.5-5.3 percent, given the serious impact of the latest wave of COVID-19 caused by the Delta variant and recent restrictions imposed in the two islands of Java and Bali.

Thailand reported 41 new deaths on May 26, the highest daily death toll since the outbreak of the pandemic, raising the total number of fatalities to 873, according to the country's authorities.

An article published on the Singapore’s Straits Times on February 16 commented that even as Singapore's economy stays on the recovery track, enthusiasm over a significant growth acceleration is wearing off.

Indonesia has continued revising its economic growth forecast for this year to a contraction of between 2.2 and 1.7 percent amid an increase of COVID-19 infections and tightened restrictions.

The World Bank (WB) has revised down Malaysia’s economic growth forecast this year to a contraction of 4.9 percent, from an early estimate of minus 3.1 percent, following a sharper than expected contraction in the second quarter of 2020.

The World Bank (WB) has revised down economic growth forecasts for the Philippines and Malaysia due to the adverse impacts of COVID-19 and strict community quarantine.

The Ministry of Trade and Industry of Singapore downgraded its economic growth forecast to between 0.5-1.5 percent from the rate of between 0.5-2.5 percent estimated in November 2019.