The macroeconomic assumptions of a recently released 2022 state budget draft reflect the expectation that Indonesia’s economy will largely return to pre-pandemic conditions by 2022, a postponement of predictions outlined in the 2021 budget. The 2022 draft presumes that some key macroeconomic indicators such as gross domestic product (GDP) growth, the inflation rate and the […]
Read MoreThe government is preparing a master plan to develop intelligent transport systems (ITS) to properly consolidate and invigorate the technological development and capabilities in the industry, in the expectation of a soft launch in 2023. ITSs are environmentally-friendly modern applications designed to efficiently provide real-time data pertaining to different modes of transport and traffic management, […]
Read MoreMANILA, Philippines — The government has collected P275.38 billion in taxes from fuel marking, nearly two years since this scheme was implemented, Finance Secretary Carlos Dominguez said. The fuel marking scheme seeks to eliminate the presence of illicit fuel in the market. Under the program, regulators use a chemical identifier to determine which petroleum products […]
Read MoreThe baht opened at 33.35 to the US dollar on Friday, unchanged from Thursday’s closing rate. The Thai currency is likely to move between 33.30 and 33.45 during the day, Krungthai Bank market strategist Poon Panichpibool said. Poon explained that the baht had not weakened in proportion with the strengthening of the dollar, as exporters […]
Read MoreThailand’s second-quarter GDP growth expanded 0.9% quarter-on-quarter, and at a better-than-expected 7.5% year-on-year, versus a consensus forecast of 6.4% and JPMorgan’s estimate of 6.8%. Nonetheless, as a country highly reliant on tourism and with the continued limits on cross-border travel, we expect a full recovery in Thailand back to pre-Covid-19 levels to only be achieved […]
Read MoreVietnam’s tax agencies and banking groups are taking more drastic concerted efforts to buttress the domestic economy and foster resilience against the current wave of COVID-19 infections. A handful of tax relief measures to help businesses ride out the bump, including corporate income tax (CIT) reduction, is expected to be approved by the government soon. […]
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Thailand
