IMF on Philippines GDP in 2020, 2021 MANILA, Philippines — The International Monetary Fund (IMF) now expects a deeper economic contraction for the Philippines as the country continues to struggle to limit the impact of the pandemic. Yongzheng Yang, IMF resident representative to the Philippines, said the Philippine economy likely contracted by 9.6 percent in […]
Read MoreThe cabinet on Tuesday approved a new relief package, including a reduction in land and building tax, a cut in property transaction fees and reduced contributions to the Social Security Fund (SSF) by employees, to ease the economic impacts of Covid-19. Finance Minister Arkhom Termpittayapaisith said the cabinet approved a reduction in the tax on […]
Read MoreThe National Bank of Cambodia (NBC) on January 26 officially launched the Retail Pay system, a government effort to reduce cash consumption and boost the use of electronic payments in the economy. Presiding over the launch, NBC deputy governor Neav Chanthana said Retail Pay is a crucial component of Cambodian financial infrastructure, noting that the […]
Read MoreForeign investment funds (FIFs), excluding term funds or short-term fixed-income funds, recorded a 27.5% growth from 2019 with total net asset value of 840 billion baht, accounting for 21% of the Thai mutual fund market, an increase from around 10% in 2016. Chinese equity funds recorded the highest net asset value of 120 billion baht […]
Read MoreMANILA, Philippines — The Philippine economy is likely to grow slower this year after nose-diving to a deeper fall last year, trailing its peers in Southeast Asia because of expected persistent lockdowns that are likely to prevent an economic rebirth. Gross domestic product (GDP) likely slumped 9.6% year-on-year in 2020, worse than the 8.3% seen […]
Read MoreThailand’s policymakers will continue to enact policies to boost domestic activity amid persistent challenges from the pandemic. On Jan 19, the cabinet approved 210 billion baht (an estimated 1.3% of GDP) in cash handouts to support lower-income households, self-employed workers and farmers (comprising around 30 million people) amid a resurgence in domestic Covid-19 cases. The […]
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