Vietnam’s Government slashed the value-added tax (VAT) rate from 10 to 8% earlier this month – a move that cost the State budget $2.2 billion but, along with other support, is expected to help boost the pandemic-hit economy. This policy is not new in Vietnam – the country did a similar move in 2009 to […]
Read MoreThe increasing global inflation stems from the supply chain being affected by the COVID-19 pandemic. The country’s inflation rate in 2020 was 1.9 per cent, and 1.7 per cent on November 2021. This was said by Minister at the Prime Minister’s Office and Minister of Finance and Economy II Yang Berhormat Dato Seri Setia Dr […]
Read MoreThe Ukraine-Russia conflict has led to rising global oil prices, raising concerns the Finance Ministry will have to inject additional funds to keep the retail price of diesel below 30 baht a litre, says a ministry source who requested anonymity. The government already introduced two measures to peg the price of diesel below 30 baht […]
Read MoreSINGAPORE is imposing sanctions on Russia, joining a growing number of countries seeking to slap economic costs on the nuclear superpower for invading Ukraine. “In particular, we will impose export controls on items that can be used directly as weapons in Ukraine to inflict harm or to subjugate the Ukrainians. We will also block certain Russian banks […]
Read MorePETALING JAYA: Soaring oil prices sparked by the Russia-Ukraine war could impact the domestic economy, fanning inflationary pressures and higher cost of living. While rising oil prices would boost the government’s revenue, the higher cost of living would burden the lower income segment and smaller businesses, according to economists. At press time, the international benchmark […]
Read MoreMANILA, Philippines — The Philippines’ current account deficit may swell to above two percent of gross domestic product (GDP) this year due to the widening trade deficit as well as rising global oil prices, especially after Russia started the invasion of Ukraine, according to Moody’s Investors Service and Japanese investment bank Nomura. Moody’s said in […]
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Thailand
