Containing the Covid-19 pandemic will cost Asia-Pacific at least US$2 trillion (Bt65.2 trillion) in lost household and corporate incomes through 2021, according to S&P Global Ratings. The ratings firm has calculated the economic cost of an initial one-month lockdown could be about 3 percent of GDP in Asia-Pacific. “As the Covid-19 pandemic endures, we are […]
Read More[TOKYO] Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented” toll on the region’s service sector and major export destinations, the International Monetary Fund (IMF) said on Thursday. Policymakers must offer targeted support to households and firms hardest-hit by travel […]
Read MoreWASHINGTON – The International Monetary Fund (IMF) on Wednesday (April 15) revised down the growth rate in 2020 of the Asean-5 countries – Indonesia, Malaysia, Philippines, Vietnam and Thailand – to minus 1.3 per cent. “Large Asean countries have introduced public health measures including lockdowns, and there are negative economic impacts from reduced tourism, disrupted […]
Read MoreThe Association of Southeast Asian Nation (ASEAN) needs to think more about strategically restoring and promoting combined economic growth now and after the end of the COVID-19 crisis, said Prime Minister Hun Sen during the Special ASEAN Summit on the impact of COVID-19. “ASEAN must accelerate the implementation of existing plans and mechanisms as well […]
Read MoreASEAN+3 growth is expected to reduce sharply to 2 per cent in 2020, followed by a strong rebound to 5.5 per cent in 2021, said ASEAN+3 Macroeconomic Research Office (AMRO) on Tuesday, with the launch of its annual flagship report. The ASEAN+3 region includes the 10 ASEAN members and China, Hong Kong, Japan and Korea. […]
Read MoreFree trade agreement (FTA) generates both winners and losers, and the formation of the Regional Comprehensive Economic Partnership (RCEP) is no exception. This column argues that tariff reduction under RCEP is likely to reduce ASEAN’s exports as it will erode trade preferences of ASEAN granted by existing FTA partners. RCEP is a regional agreement that aims to liberalize […]
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Thailand
