MANILA, Philippines — The pandemic-induced rise of government debts likely hit its peak already, and a return to pre-crisis fiscal health could happen late next year, Finance Secretary Carlos Dominguez III said Wednesday. As of end-March, government debt, as a share of the economy, has risen to 60.4%, and Dominguez believes that that level remains manageable. […]
Read MoreThe cabinet on Tuesday cut the spending budget for the “Ying Chai Ying Dai” (the more you spend, the more you get) e-voucher cashback scheme to 9.8 billion baht from 28 billion baht because of fewer-than-expected participants. Meanwhile, the cabinet also raised the budget to support the relief packages for people and businesses affected by […]
Read MoreSEOUL (BLOOMBERG) – Japan and South Korea continued to rack up solid export gains, in a sign that Covid-19 variants have yet to have a major impact on global demand even as the recovery in world trade inches closer to its peak. Exports out of Japan, the world’s third-largest economy, jumped 49 per cent in June […]
Read MoreThe U.S. Department of the Treasury and the State Bank of Vietnam (SBV) have reached an agreement over the former’s designation of Vietnam as a currency manipulator. In mid-April, the U.S. Department of the Treasury removed Vietnam from the list of countries manipulating their currencies, reversing a decision of the Trump administration in December 2020 […]
Read MoreProspects for Thailand’s packaging exports are promising, driven by the growing e-commerce market and rising demand for consumer goods and health products — especially recycled, environmentally friendly and health-conscious packaging — amid Covid-19. Phusit Ratanakul Sereroengrit, director-general of Trade Policy and Strategy Office (TPSO) under the Commerce Ministry, said a study by his office noticed […]
Read MoreMANILA, Philippines — Manila-based Asian Development Bank (ADB) is keeping its economic growth outlook for the Philippines at 4.5 percent this year amid a sea of downgrades in Southeast Asia due to the resurgence of COVID-19 cases. In its Asian Development Outlook Supplement released yesterday, ADB said its gross domestic product (GDP) growth forecasts for […]
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