Thai consumer confidence dropped for a fourth straight month in June, falling to its lowest level since October last year on concerns over a global slowdown and political uncertainty, according to a survey released on July 11 by the University of the Thai Chamber of Commerce (UTCC).
Despite the global economic downturn, Vietnam remained a silver lining in the world in 2023 with a GDP growth of 5.05%, becoming one of the fastest growing economy in the region and the world, Minister-Chairman of the Government Office Tran Van Son said at a press conference on January 5.
Andrea Coppola, World Bank Lead Economist for Vietnam, has described Vietnam in 2023 as resilient, saying that amid the global economic slowdown, the Southeast Asian nation was still able to sustain a rate of growth that many other countries in the rest of the world can only dream about.
The Association of Southeast Asian Nations (ASEAN) has continued to strengthen economic cooperation through the ASEAN-Canada Free Trade Agreement (ACAFTA) negotiations to respond to the impacts of the ongoing global economic slowdown.
The Singaporean labour market continued to improve in the second quarter of 2022, with total employment reaching 99.5% of the level in December 2019, before the COVID-19 pandemic, said the country's Ministry of Manpower's (MOM) Labour Market Report on September 14.
The Thai government is planning to make adjustments to its national strategy to keep abreast of changing social and economic trends caused by the global economic slowdown and the COVID-19 pandemic.
Indonesian Finance Minister Sri Mulyani Indrawati has denied the notion that the tax revenue target for 2019 was set too high, causing the government fail to achieve it.
Indonesia's central bank cut interest rates for the fourth month in a row on October 24 as Southeast Asia's largest economy looks to counter slowing global growth.
Singapore on October 14 decided to ease monetary policy for the first time in more than three years as the national economy has narrowly avoided recession in the third quarter of 2019.
Vietnam gained positive economic achievements in the first quarter of this year despite a range of difficulties both in and outside the country, Prime Minister Nguyen Xuan Phuc has said.
