ASEAN Region Weekly (19 Jul. 2019)

ASEAN

The 34th Asean Summit in Bangkok emphasized the importance of advancing partnerships for sustainability to achieve a people-centred, people-oriented and forward-looking Asean community that leaves no one behind in the rapidly changing regional and global environment. (The Star)

Indonesia

The latest trade data suggest economic activity in Indonesia is slowing, in part as a result of the ongoing United States-China trade war. (Jakarta Post) Indonesia’s finance minister on Tuesday said the fiscal deficit in 2019 may be wider than initially anticipated, at 1.93% of GDP, due to an expected 134.3 trillion rupiah ($9.64 billion) shortfall in revenue collection. (Reuters)

The latest trade data suggest economic activity in Indonesia is slowing, in part as a result of the ongoing United States-China trade war. (Jakarta Post) Indonesia’s finance minister on Tuesday said the fiscal deficit in 2019 may be wider than initially anticipated, at 1.93% of GDP, due to an expected 134.3 trillion rupiah ($9.64 billion) shortfall in revenue collection. (Reuters)

The Finance Ministry has projected a revenue shortfall of Rp 140 trillion (US$10.02 billion) from the revenue forecast of Rp 1.58 quadrillion in the 2019 state budget, and thus expects to collect Rp 1.44 quadrillion in revenue by the end of the year. (Jakarta Post)

Lao PDR

The injection of bank credit into the economy continues to slow despite government measures to improve the investment climate for the private sector. (Vientiane Times)

Myanmar

Myanmar is looking to capitalise on a recent tourism rebound and stimulate more investment in the sector, following efforts to improve access to credit for smaller operators. (Myanmar Times)

Myanmar expects its economy to grow by 7 percent as measured by GDP for the upcoming 2019-20 fiscal year compared to the 7.6pc expected for fiscal 2018-19. (Myanmar Times)

Singapore

The IMF has trimmed its 2019 economic growth forecast for Singapore to 2 per cent from 2.3 per cent, the Washington-based lender said on Tuesday, as global trade tensions hit exports from the city-state. (Reuters)

Thailand

Thailand’s GDP is set to grow by less than 4%  this year and next after the first-quarter growth downturn and the sharp export slowdown provided a backdrop of subdued momentum going forward, says ADB. (Bangkok Post)

Viet Nam

Vietnam’s export revenue in the first five months of 2019 has seen a 6.7 percent increase year-on-year. Against the backdrop of a global economic slowdown and sprawling trade protectionism, this export performance has outshone other countries. (Global Times)