High budget revenue in the five-month period was thanks to economic recovery trend that has stated since late 2020. Despite negative impacts of the Covid-19 pandemic on economic activities and public life, Vietnam’s state budget collection in May surged by 20% year-on-year to VND73 trillion (US$3.17 billion), according to the General Department of Taxation (GDT). […]
Read MoreVisa, the global leader in digital payments, has today released findings from its latest Visa Consumer Payment Attitudes study, with 44 percent of Cambodians saying they are carrying less cash now than before the start of the pandemic. According to Visa’s data, contactless payments are growing in popularity in Cambodia with two in every three […]
Read MoreMANILA, Philippines — The downgrade of quarantine restrictions helped the manufacturing sector to bounce back last month, closing in to the stabilization level as a number of factories managed to restart operations. According to market intelligence firm IHS Markit, the country’s headline purchasing managers’ index (PMI) registered at 49.9 in May, an improvement from the […]
Read MoreSiam Commercial Bank’s Economic Intelligence Center (EIC) has revised its growth forecast for the Thai economy this year down to 1.9% from 2.0%. The move takes into consideration its downward revision of tourist arrivals and the impact of a longer than expected domestic Covid-19 outbreak, as well as support from robust exports and government measures. […]
Read MoreThe banking sector remained resilient in 2020 despite the wider negative economic impacts of Covid-19, according to the National Bank of Cambodia’s (NBC’s) Financial Stability Review 2020. Total bank assets in Cambodia amounted to $50.5 billion, an increase of 17.6 percent from 2019. Customer credits reached 140 percent of gross domestic product (GDP), achieving a […]
Read MoreMANILA, Philippines — At least half of the total retail transactions will be online as early as next year or one year ahead of the 2023 target of the Bangko Sentral ng Pilipinas (BSP) as the regulator continues to ramp up efforts to transform the Philippines to a cash-lite from a cash-heavy economy. During the […]
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Thailand
