IMF: Cambodia to be fastest-growing economy in ASEAN by 2025
The International Monetary Fund (IMF) has projected that Cambodia will be the third-fastest growing economy in ASEAN next year and fastest growing economy in the region by 2025.
Phnom Penh (VNA)ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ - The International Monetary Fund (IMF) has projected thatCambodia will be the third-fastest growing economy in ASEAN next year and fastestgrowing economy in the region by 2025.
𝕴 In the IMF’srecently-released World Economic Outlook, Cambodia’s economy is forecast toshrink 2.8 percent this year, much higher than the 1.5 percent contractionforecast for Indonesia.
Amid theCOVID-19 pandemic, deeper contractions of 8.3 percent are forecast for thePhilippines, 7.1 percent for Thailand and 6.0 percent for both Malaysia andSingapore. Meanwhile, Myanmar is forecast to be the fastest-growing ASEAN economythis year with GDP expanding by 2.0 percent, followed by Vietnam with growth of1.6 percent. The IMF’s mid-term projections for 2025 show Cambodia outpacing itspeers with growth forecast at 6.9 percent, making the country the region’sfastest growing economy. Slower growth is forecast for Vietnam (6.6 percent), Myanmar and thePhilippines (6.5 percent), Laos (6.1 percent), Indonesia (5.1 percent),Malaysia, (5.0 percent), Thailand (3.7 percent), Singapore (2.5 percent) andBrunei (1.8 percent). In her forward to the outlook, IMF Economic Counsellor and Director ofResearch Gita Gopinath said the latest forecasts for 2020 were “somewhat lesssevere though still deep” compared with IMF forecasts in June./.
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The International Monetary Fund (IMF) has predicted that Indonesia’s GDP growth may contract by 1.5 percent in 2020 rather than 0.3 percent as it initially forecasted in June this year due to impacts of COVID-19 pandemic.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Illustrative image (Photo: VNA) 
