ASEAN Region Weekly (26 Jul. 2019)

Indonesia

Analysts and businesspeople have said that Bank Indonesia will need to further slash its reference interest rate in order to stimulate the economy. (Jakarta Post)

Philippines

Foreign banks said they expect the Philippines to achieve gross domestic product growth of about 6% this year, representing the low end of the national government’s target range of 6-7%, with second half investment helping offset the impact of the four-month delay in this year budget. (Business World)

Singapore

A rapid deterioration in Singapore’s economic data has fueled speculation the central bank will ease monetary policy. The result may be higher interest rates and bond yields. (Bloomberg)

Thailand

The new government is expected to inject between Bt60 billion and Bt100 billion into the economy by the end of the year with policies to boost consumer spending and reduce the cost of living. However, economists question the government’s budget capabilities to fund these projects and suggest that it should prioritise policies that directly boost consumer spending. (The Nation)

Viet Nam

The Asian Development Bank maintains its Vietnam GDP growth forecast at 6.8 percent this year, and 6.7 percent in 2020, the highest in Southeast Asia. (VN Express)