Southeast Asian countries see upbeat growth in Q2
Southeast Asian nations have updated their economic growth in the second quarter of 2017 with encouraging figures, despite the impact of rising US trade protectionism, higher US interest rates.
Building under construction in Manila, the Philippines (Photo: AFP/VNA)Hanoi (VNA) – Southeast Asian nations have updated their economic growth in the second quarter of 2017 with encouraging figures, despite the impact of rising US trade protectionism, higher US interest rates, and an expected slowdown in China's economy.
The Philippine economy grew 6.5 percent in the period thanks to its effective public spending on infrastructure projects and good recovery of local agriculture. The country’s GDP inched up 0.1 percentage point compared to the figure in the first quarter.
The Philippine economy is on track to meet its 2017 growth target of 7.5 percent, said Socioeconomic Planning Secretary Ernesto Pernia.
Malaysia’s economy, meanwhile, expanded 5.8 percent year-on-year in the second quarter of 2017, the highest level in the past two years and above market expectations of 5.4 percent. Experts attributed the growth to factors such as strong domestic demand and improved export, and moderated inflation.
The Malaysian economy is expected to expand by 4.8 percent this year.
Thailand’s growth hit 3.7 percent in the second quarter, a peak in over the past four years. Major contributors of the outcome were strong exports, fast-growth tourism and appreciation of the local currency.
Some experts forecast Thailand’s economy to grow 4 percent in 2017.-VNA
You should also see
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
See more
World
Indonesia's first thermal power plant stops operating
Indonesia's Ministry of Maritime Affairs and Fisheries (MMAF) has held a press conference to inform about the country’s progress in the early decommissioning of the Cirebon-1 thermal power plant.
World
Thai central bank intervenes to stabilise currency
The Bank of Thailand (BoT) said it has intervened in currency markets at times to ease any excessive moves in the THB, adding that the current policy rate is robust and conducive to economic recovery, reported the Bangkok Post.
World
Vietnam appeals for maximum self-restraint, end to hostilities in Middle East
A representative of Vietnam appealed to all the parties concerned to exercise maximum self-restraint and to end hostilities, while addressing a United Nations Security Council (UNSC) open debate on the Middle East and Palestine situation on March 25.
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
