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Philippines: Government debt hits record P8.6 trillion

MANILA, Philippines — The government’s debt stock rose to a new record high of P8.6 trillion as of end-April following the net issuance of government securities and the availment of foreign loans to fund coronavirus disease 2019 or COVID-19 response, the Bureau of the Treasury (BTr) reported yesterday. According to the latest data from the […]

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Thailand: Land and buildings tax to get chop

The cabinet yesterday approved a sharp cut in the land and buildings tax of up to 90% for this fiscal year, the latest move to alleviate fallout from the coronavirus pandemic. Prime Minister Prayut Chan-o-cha said the overall public will be hit harder if the government proceeds with plans to fully levy the land and […]

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Indonesia’s economy may shrink 3.5% if PSBB last for 4 months: World Bank

Indonesia’s economy may shrink 3.5 percent this year should the large-scale social restrictions (PSBB) imposed by several regional administrations nationwide last for four months, according to a worst-case projection by the World Bank, as the government rushes to reopen the virus-battered economy. Under its baseline scenario, however, Indonesia’s economy is expected to grow zero percent […]

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Low credibility hinders development of e-commerce in Vietnam

The Hanoitimes – Up to 90% of online shoppers in Vietnam still prefer cash payment over online transactions, mainly due to security concern and a preference to check product quality before paying. While e-commerce has become an indispensable part of enterprises’ operation since the Covid-19 outbreak, the lack of trust from customers, among other issues, is […]

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