NESDC: Thai economy posts highest contraction since 1998  World

NESDC: Thai economy posts highest contraction since 1998

The State planning agency National Economic and Social Development Council (NESDC) of Thailand said on February 15 that the country’s gross domestic product (GDP) shrank 6.1 percent in 2020 due to the wide spread of COVID-19 pandemic, the highest contraction in the past more than two decades.
WB lowers Malaysia’s 2020 growth forecast to -4.9 pct ASEAN

WB lowers Malaysia’s 2020 growth forecast to -4.9 pct

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.
Indonesia’s economic growth projected at 1 percent in Q2 ASEAN

Indonesia’s economic growth projected at 1 percent in Q2

Indonesia's economic growth in the second quarter of 2020 is expected to be much lower than that of the first quarter, only about 1 percent due to the large-scale social restrictions (PSBB) imposed nationwide, said Finance Minister Sri Mulyani at an online press conference on June 3.
Singapore lowers GDP growth due to COVID-19 World

Singapore lowers GDP growth due to COVID-19

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.
Thailand sets budget bill meeting next week World

Thailand sets budget bill meeting next week

Speaker of Thai House of Representatives Chuan Leekpai has called for the House’s special session on February 13 to repeat the second and third readings of the 2020 budget bill to comply with a Constitutional Court ruling.
Thailand’s exports continue facing hurdles World

Thailand’s exports continue facing hurdles

Thailand’s exports fell for the fourth consecutive month in November, mainly due to lower prices of oil and agricultural products, a slowdown in the world economy, the US-China trade tensions, and rising baht.
IMF cuts growth forecast for Philippines World

IMF cuts growth forecast for Philippines

The International Monetary Fund (IMF) has further slashed its economic growth forecast for the Philippines for 2019 and 2020 to 5.7 percent and 6.2 percent, respectively, as the economy slowed down in the second quarter and external environment worsens.