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Southeast Asia growth rate to decelerate to 3.8%

Southeast Asia’s growth rate is expected to decelerate to 3.8 per cent in 2023 due to the sluggish growth of global trade and the effects of tightened domestic monetary policy, according to the UN Conference on Trade and Development (UNCTAD) Trade and Development Report 2022. “The region’s vulnerability to financial and exchange rate instability weighs […]

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Thailand: Economists urge caution for gloomy 2023

Thailand needs to prepare for global economic difficulties as they will intensify next year, according to economists. Kobsak Pootrakool, senior executive vice-president of Bangkok Bank, said the world economy is entering a recession, which will definitely affect Thailand. One current sign of the impact is Thailand’s exports have begun to decline, said Mr Kobsak. Domestic […]

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Cambodia: Travel boom seen after Covid easing

With Covid-related documents no longer needed to be presented for entry into Cambodia, tourism industry insiders are gearing up for an uptick in international and domestic tourism. In an October 3 announcement issued by the Ministry of Health, minister Mam Bun Heng affirmed: “We have removed the requirement for all inbound travellers in all modes […]

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Philippines: GDP growth forecast revised downward

MANILA, Philippines — Economists following developments in the Philippines have trimmed their growth forecast for this year and next year over concerns on the weak peso and high inflation, according to a survey of think tank Japan Center for Economic Research (JCER). Results of the quarterly consensus survey on Asian economies conducted by JCER in […]

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Thailand: Shippers project 8% growth in exports

Thailand’s exports should grow by 8% this year if China’s economy recovers and the shortage of semiconductors eases, according to the Thai National Shippers’ Council (TNSC). Chaichan Chareonsuk, the TNSC chairman, said on Tuesday the country’s exports for the last four months of this year are likely to see continued growth momentum. “Despite myriad negative factors, […]

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