Singapore-based United Overseas Bank (UOB) has revised up its GDP growth forecast for Vietnam by 0.5 percentage point to 6.4% this year from the previous projection of 5.9%.

The Asian Development Bank (ADB) has forecast that Vietnam will post Gross Domestic Product (GDP) growth of 6% in 2024. It has also lowered its growth forecast for Vietnam this year to 5.2% from the previous 5.8%.

The ASEAN+3 Macroeconomic Research Office (AMRO) has just revised the growth forecast for Vietnam’s economy in 2023, increasing it to 4.7% from the previous 4.4% stated in the July report.

The World Bank (WB) has slightly lowered the growth forecast for developing East Asia and Pacific to 5% in 2023 from the April prediction of 5.1%.

Private-sector economists have lowered their growth forecast for Singapore next year to 1.8%, according to the latest survey of professional forecasters released by the Money Authority of Singapore (MAS) on December 14.

Given Vietnam’s strong economic recovery in the third quarter, the Singapore-based United Overseas Bank (UOB) has raised its forecast for the country’s GDP growth this year to 8.2%, from the previous prediction of 7%.

The Asian Development Bank (ADB) said the Philippine economy is forecast to grow faster than initially expected in 2022, following the relaxation of COVID-19 mobility restrictions, the expansion of the COVID-19 vaccination programme, and a rebound in investment and household consumption.

ADB experts have said growth is being pushed by the continuously broadening trade and the more-than-expected recovery of the production and manufacturing sector. This growth is also coupled with the increasing domestic travel and disbursement of the public investment, trending growth skyward.

The Thai economy is likely to start recovering in the first half of this year thanks to the government's better control of COVID-19 infections, the state's economic stimulus measures as well as accelerated infrastructure development, Deputy Prime Minister Supattanapong Punmeechaow has said.

The Bank of Thailand (BoT) has reduced the country's GDP growth outlook for next year from 3.6 percent to 3.2 percent, mainly due to an anticipated delay in tourism recovery.

The Asian Development Bank (ADB) has reduced its projections for Indonesia’s economy in 2020 and 2021 due to a continued slowdown in financial activity as a result of the continuing COVID-19 pandemic.

The Philippine economy is projected to contract 1.9 percent this year due to the economic fallout triggered by natural disasters and COVID-19, the World Bank said in an updated report released on June 9.

Fitch Solutions has revised down Indonesia’s economic growth forecast in 2020 as the COVID-19 pandemic places a heavy burden on its state budget and current account and limits Bank Indonesia’s monetary space to support the weakening rupiah.

Malaysia’s leading bank Maybank still maintained its 2019 growth forecast of 4.9 percent for the Southeast Asian country as the mining and agriculture sectors are expected to recover this year.

The transport sector is forecast to post an annual 5.7 percent growth rate in energy needs in 2016-2035, a pace faster than other sectors.

The Fiscal Policy Office (FPO) under Thailand’s Ministry of Finance has raised its growth forecast for the country in 2017 by 0.2 percent to 3.6 percent.

The World Bank (WB) has revised its 2016 growth forecast for Vietnam down to 6 percent from 6.2 percent predicted earlier in the year.

Standard and Poor’s (S&P) senior director and lead analyst for corporate ratings in Indonesia and Malaysia, Xavier Jean, has noted that his firm’s corporate clients are a lot more optimistic recently.

The Thai Government will continue to issue additional economic stimulus packages after previous measures brought upbeat initial success, said government spokesman Sansern Kaewkamnerd on January 4.

Asia’s developing economies remain on track to see a 5.8 percent growth this year and 6 percent in 2016 despite economic slowdown in the US, Japan and the Eurozone, reported the Asian Development Bank