The Indonesian government is set to provide cash transfers and working capital loans for micro, small and medium enterprises (MSMEs) in its latest bid to boost economic growth amid the COVID-19 pandemic.
Indonesia's central bank (BI) is ready to further finance the government's budget deficit and "share the burden" in the fight against the COVID-19 pandemic, BI Governor Perry Warjiyo said on June 27.
The Indonesian government is planning to issue Samurai and Eurobond bonds in the second half of 2020 to fund the fiscal deficit, according to a finance ministry official.
Malaysia’s fiscal deficit will nearly double to around 6 percent of the gross domestic product (GDP) this year because of the government’s recent efforts to revive the economy, according to Finance Minister Zafrul Abdul Aziz.
Laos’ economic growth is projected to decline in 2020 due to the impact of the COVID-19 pandemic and measures to contain its spread, unveiled a World Bank report on the country’s growth and debt in the year.
Indonesia will require big internet companies to pay value-added taxes (VAT) on sales of digital products and services from July as part of efforts to boost revenue amid the coronavirus pandemic, according to a tax official of the country.
While Vietnam remains significantly exposed to the COVID-19 outbreak and the ongoing turbulence in the global financial markets, its economy stays resilient to external shocks in the first few months of 2020, according to the World Bank (WB).
Malaysia expects its fiscal deficit to widen to 4 percent of gross domestic product (GDP) this year because of the 58 billion USD stimulus measures announced to counter the impact of the coronavirus pandemic on the economy.
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.
Support packages from the Government and banks would contribute to partly reducing difficulties for enterprises affected by COVID-19, but stronger measures should be taken for the hardest-hit industries, experts said.
The Statistics Indonesia (BPS) announced on November 4 that the country’s economic growth reached 5.02 percent in the third quarter, the lowest level in more than two years.
The World Bank (WB) has said the Malaysian government needs to diversify and increase its revenue resources, including widening coverage of the sales and services tax (SST) to rebuild fiscal buffers.
Vietnam’s fiscal deficit, including principal repayments, would come in at 6.6 percent of GDP this year and next year, up from 5.9 percent in 2018, Fitch Solutions Macro Research forecast.
The World Bank (WB) is optimistic about Laos’ economic growth, which is projected to rebound to 6.5 percent in 2019, higher than the figure of 6.3 percent recorded in 2018.
Malaysian Finance Minister Lim Guan Eng said on July 22 that Malaysia will find it challenging to meet its 3 percent fiscal deficit target for next year due to uncertainties around the US-China trade war.
Politburo member and Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan held talks with Politburo member of the Lao People’s Revolutionary Party and Secretary and Governor of Vientiane Sinlavong Khoutphaythoune on June 15 to discuss progress of cooperation agreement signed between the two cities in 2017.
Vietnam's fiscal deficit will stay high at 5.7 percent (including interest repayment) in 2019 due to delays in the divestment of State-owned enterprises (SOE) and lower import tax revenues, according to Fitch Group’s Fitch Solutions forecast.
Bank Indonesia (BI) said on November 27 that it will continue to adopt its pre-emptive and ahead-of-the-curve monetary policy in a bid to maintain economic stability amid the high external pressure in 2019.
The Malaysian government announced on August 29 that it will set up two committees to help reduce the country's fiscal deficit to 2.8 per cent of the Gross Domestic Product, according to Malaysian Finance Minister Lim Guan Eng.
Vietnam’s economy is forecast to continue improving, with gross domestic product (GDP) to expand by 6.8 percent this year, said the World Bank (WB) in its latest economic update for Vietnam.
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