Vietnamplus

The gross domestic product (GDP) of Vietnam grew 2.12 percent year-on-year in the first nine months of 2020, according to the General Statistics Office (GSO).

Vietnam’s economy recovered in the third quarter, but growth has come in slightly weaker than what Singaporean economists have expected.

The gross domestic product (GDP) in the first nine months of 2020 and the third quarter respectively grew 2.12 percent and 2.62 percent from a year earlier, the slowest pace in 10 years. However, this is still a success amid numerous difficulties caused by the COVID-19 pandemic.

The gross domestic product (GDP) of Vietnam grew 2.12 percent year-on-year in the first nine months of 2020, according to the General Statistics Office (GSO).

The COVID-19 pandemic is weighing on the banking system’s non-performing loans (NPLs), requiring significant efforts to keep NPLs ratio below 3percent by the end of this year as targeted by the Government.

Key economic regions were urged to maximise their potential and competitive advantages as well as promote innovations to drive regional and national growth, according to a Government resolution on solutions to strengthen the development of key economic regions.

The Indonesian Finance Ministry has said the State revenue till August this year reached 1.028 quadrillion rupiahs (some 69.5 billion USD), or 60.2 percent of the amended state budget that amounted to nearly 1.7 quadrillion rupiahs.

The Singaporean economy suffered a deeper recession in the second quarter than earlier estimated as it contracted by 13.2 percent year on year, compared to the previous prediction of -12.6 percent.

The agricultural industry is on track to account for 32 percent of Cambodia’s gross domestic product (GDP) by the end of the year as a large number of the country’s workforce moves into the sector, said a researcher.

Vietnam’s gross domestic product (GDP) increased 1.81 percent during the first six months of 2020, the lowest first-half growth pace since 2011, according to the General Statistics Office (GSO).

Indonesia’s gross domestic product (GDP) will grow at zero percent this year due to the COVID-19 pandemic, the World Bank has forecast.

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.

Malaysia’s gross domestic product (GDP) growth fell sharply to 0.7 percent in the first quarter of this year, the lowest seen since Q3 2009, according to a statement from the Department of Statistics Malaysia.

Malaysia’s economy is expected to have contracted for the first time in more than a decade in the first quarter as COVID-19 crisis shattered private consumption and external demand.

The business sector contributed over 60 percent to the gross domestic product (GDP) in 2019, according to the White Book on Vietnamese Businesses released by the General Statistics Office (GSO) in Hanoi on April 28.

The Philippine economy is likely to experience the first annual contraction in more than two decades this year due to the COVID-19 pandemic before it pulls back up for a U-shaped recovery in 2021.

The country wants to raise the digital economy’s contribution to gross domestic product (GDP) to 20 percent by 2025 and 30 percent by 2030.

The Ministry of Finance forecast a budget overspending at 5-5.1 percent of gross domestic product (GDP) this year, about 1.5-1.6 percentage points higher than the Government’s plan due to the impacts of the COVID-19 pandemic.

The Asian Development Bank (ADB) has predicted that the Thai economy will shrink by 4.8 percent this year due to the COVID-19 pandemic, heading for its deepest contraction since the Asian financial crisis in 1998.

The World Bank (WB) has revised down economic growth forecasts for the Philippines and Malaysia due to the adverse impacts of COVID-19 and strict community quarantine.