Despite predictions of global economic downturn MANILA, Philippines — The International Monetary Fund (IMF) is maintaining its growth outlook for the Philippines over the next two years despite predictions of a global economic downturn. IMF resident representative Ragnar Gudmundsson said the multilateral lender expects gross domestic product growth in the country to slow down to […]
Read MoreThe tax-to-GDP ratio in Cambodia registered an 80 percent growth, from 10 percent of the GDP in 2009 to 18 percent in 2020, the highest rise among the eight countries of the Southeast Asia region featured in a study by the CamEd Business School, recently, reigniting debates about whether the rising level of taxation is […]
Read MoreA higher risk of slowing exports amid a global economic slowdown will pressure Thai economic growth this year, despite positive growth of the tourism sector, says an executive of the Bank of Thailand. Even though the tourism recovery is a key factor supporting economic expansion in 2023, Thailand’s economy will feel the pressure from the export slowdown, […]
Read MoreThe US remained Vietnam’s largest export market, with a revenue of $7.6 billion, while China was the top supplier of imported products at $8.1 billion. Vietnam’s trade performance started in 2023 on a positive note as the country recorded a trade surplus of US$3.6 billion in January. Data released by the General Statistics Office (GSO) […]
Read MoreMANILA, Philippines — Banks are now feeling the pinch of higher interest rates as credit growth slowed to 13.4 percent in December from 13.9 percent in November, the Bangko Sentral ng Pilipinas (BSP) said. Preliminary data released by the central bank showed loans released by universal and commercial banks reached P10.9 trillion in end-2022, which […]
Read MoreCambodia earned $900 million from the export of bicycles in 2022, which is an increase of 43 percent over the $631 million reported for 2021, according to a report by the Ministry of Commerce. Target markets for Cambodia’s bicycle export include the United States, Germany, the United Kingdom, Japan, China, ASEAN, Belgium, the Netherlands, Austria, […]
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