Data from BPS showed that household consumption continued to be the main driver, contributing 2.64 percentage points to GDP growth. In addition, gross fixed capital formation (GFCF), an indicator reflecting investment, also contributed 2.06 percentage points.
Ho Chi Minh City will accelerate public spending, stimulate consumption, and expand export markets to achieve a growth rate of 7.5% this year, its leader has said.
Ho Chi Minh City's public spending in the first half of 2023 reached 15.43 trillion VND (652 million USD), accounting for only 23% of the budgeted amount despite the many measures it took to remove hurdles.
Indonesia is formulating a new legal basis for domestic product spending in the form of Public Goods and Services Draft Bill (RUU), the country’s Maritime Affairs and Investments Coordinating Minister Luhut Pandjaitan has said.
Viet Capital Bank has unveiled a certificate of deposit for individual and institutional customers with an interest rate of up to 8.4% depending on the tenor.
The World Bank (WB) is optimistic about Laos’ economic growth, which is projected to rebound to 6.5 percent in 2019, higher than the figure of 6.3 percent recorded in 2018.
Voters in different localities voiced their wish that the National Assembly, Government and localities will give the priority to development investment, focusing public investment on key areas, after watching a live-broadcast discussion as part of the 6th session of the 14th legislature on October 29.
The Thai economy continues to gain further traction from both domestic and external demand, the central bank of Thailand (BOT) said in its press release on economic and monetary conditions in August.
Thailand’s economy is expected to expand 4 percent in the second quarter of 2018 driven by personal consumption, public spending and increasing exports, said the Fiscal Policy Office (FPO) under the Ministry of Finance.
The Government has instructed corresponding administrative authorities to aim for a 0.5 percent decrease in lending interest rates from now until the end of 2017, while keeping taxes, fees and other charges unchanged, in order to propel the current disbursement rate in public spending and boost businesses’ productivity.
President of the WB Group, Jim Yong Kim, has expressed his support to the Indonesian government’s plan on tax reform in an effort to increase the state budget, reported Antara News Agency.
The World Bank (WB) has predicted that the Philippines will continue its robustgrowth in 2017 with an economic expansion of 6.8 percent, a slight drop compared to the earlier forecast of 6.9 percent it gave in April.
