ASEAN Economic Community Strategy Center

June 28, 2022

Thai economy seen growing 3.5% on tourism, exports

The Thai economy is expected to grow about 3.5% this year, driven by stronger tourism and exports, Finance Minister Arkhom Termpittayapaisith said on Tuesday. The Tourism and Sports Ministry now predicts 9.5 million foreign visitors this year, Mr Arkhom told reporters. The government also plans additional measures to help reduce costs of living, he said. Source: https://www.bangkokpost.com/business/2335533/thai-economy-seen-growing-3-5-this-year-on-tourism-and-exports-says-finance-minister-arkhom

June 28, 2022

Malaysia’s PPI continues to record high growth in May 2022

KUALA LUMPUR: Malaysia’s Producer Price Index (PPI) local production, which measures the costs of goods at the factory gate, remained high in May with a growth of 11.2 per cent year-on-year (y-o-y) compared with 11.0 per cent y-o-y in April 2022, said the Department of Statistics Malaysia (DOSM). Chief statistician Datuk Seri Dr Mohd Uzir […]

June 28, 2022

Indonesia delays carbon tax scheme again on global risk

The Indonesian government has again postponed the start of a carbon tax scheme, which was set to be implemented by 1 July, citing global risks stemming from Russia’s invasion of Ukraine. This is the second time the new tax scheme has been delayed. It was originally set to begin in April this year but was moved […]

June 28, 2022

Prices hit record high, Vietnam earns big money from catfish

Export prices have been escalating in all markets and hitting new records in the US. Vietnam’s catfish export turnover is expected to reach $2.6 billion this year, the highest in history. In mid-2021, the Covid-19 pandemic broke out in southern Vietnam, causing disruption to the catfish industry. The situation got worse in Q3/2021, when catfish […]

June 28, 2022

Singapore businesses see 50% increase in B2B bad debt write-offs: Atradius

AMID increased awareness of payment default risk, businesses in Singapore have seen an “alarming” 50 per cent increase from 2021 in bad debts that could not be collected, credit insurance provider Atradius said in a Tuesday (Jun 28) press release. The June 2022 edition of the Atradius Payment Practices Barometer survey also reported that in […]

June 28, 2022

Central Banks in Asia spend billions to slow currency declines

SINGAPORE (BLOOMBERG) – After years of building their foreign-exchange reserves, central banks in Asia are tapping their stockpiles to bolster their weakening currencies against a rising US dollar. Thai reserves slid to US$221.4 billion (S$306.8 billion) as at June 17, in data released late last week. That was the lowest in more than two years. Monthly […]

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