The Singapore-based United Overseas Bank has maintained its forecast for Vietnam’s GDP growth at 6.5 percent and core inflation rate at 3.7 percent of core inflation rate in 2022, but predicted that inflation may reach 5 percent in 2023 due to multiple risks and challenges.
The Singapore-based United Overseas Bank (UOB) has maintained its forecast for Vietnam’s GDP growth at 6.5 percent and core inflation rate at 3.7 percent of core inflation rate in 2022, but predicted that inflation may reach 5 percent in 2023 due to multiple risks and challenges.
The Asian Development Bank (ADB) maintained its forecast for Vietnam’s GDP growth at 6.5 percent in 2022 and projected the economy to further expand by 6.7 percent in 2023, it was heard at a press conference in Hanoi on April 6 morning.
Some foreign financial organisations have issued relatively positive predictions for Vietnam’s economy this year, with growth expected at 6.5 - 6.7 percent.
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) of Thailand has raised its GDP growth forecast to 0.5 – 1.5 percent in 2021 from the previous projection of 0 – 1 percent as the country expects better business prospects stemming from the reopening and stimulus measures.
The Siam Commercial Bank (SCB), one of Thailand's biggest commercial banks, has cut its 2021 growth forecast for the Thai economy to 0.7 percent due to the worse-than-expected COVID-19 impact on consumption and tourism.
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.
Malaysia’s central bank (BNM) has revised down the country’s 2021 GDP growth forecast to between 3 – 4 percent from the previous 6 – 7.5 percent as the prolonged COVID-19 nationwide lockdown continues to weigh heavily on the economy.
The World Bank (WB) has revised down Malaysia’s GDP growth forecast to 4.5 percent in 2021 from 6 percent estimated in March and 6.7 percent last December amid a dramatic resurgence of the COVID-19 pandemic beginning in mid-April.
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has reduced its GDP growth forecast for Thailand to 0.5-2 percent from 1.5-3 percent due to the severe impact of the third COVID-19 outbreak despite bright export prospects this year.
The Bank of Thailand has slashed its economic growth forecast this year to 3 percent from 3.2 percent made in December, given the impact of the second wave of COVID-19 infections and tepid tourism.
Based on advance estimates for the third quarter of 2020, the Singapore economy expanded by 7.9 percent on a quarter-on-quarter seasonally-adjusted basis, rebounding from the 13.2 percent contraction in the preceding quarter.
The International Monetary Fund (IMF) has slashed its growth outlook for the Philippines for 2020 from 6.3 percent to 0.6 percent due to the impact of the coronavirus disease 2019 (COVID-19).
Fitch Solutions has revised down Indonesia’s economic growth forecast in 2020 as the COVID-19 pandemic places a heavy burden on its state budget and current account and limits Bank Indonesia’s monetary space to support the weakening rupiah.
The Bank of Thailand (BoT) lowered the country’s economic growth forecast to 2.5 percent in 2019 and 2.8 percent in the next year due to heightened external risks.
The Singapore economy is likely to end the year weaker than earlier expected in the context that the ongoing tension between the US and China has stalled three of the world’s growth engines — trade, manufacturing and investments, warned Monetary Authority of Singapore (MAS) Managing Director Ravi Menon on June 27.
Thailand’s economy in April-June grew at a slower pace than in the previous quarter, but the National Economic and Social Development Board (NESDB) kept its yearly GDP growth forecast of the country at 4.2-4.7 percent.
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