Singapore trims growth forecast, but not expecting technical recession

Singapore trims growth forecast, but not expecting technical recession

The Trade and Industry Ministry said Singapore is not expecting a technical recession, which happens when there are two consecutive quarters of quarter-on-quarter economic contraction. Although the economy shrank from April to June, the MTI is projecting positive growth ahead.…

Malaysia's finance minister says targeted subsidies have to be rolled out at right time, gradually

Malaysia’s finance minister says targeted subsidies have to be rolled out at right time, gradually

Malaysia will announce its second quarter GDP data tomorrow (Aug 12), which economists forecast to have grown 6.7% from a year ago. Finance Minister Zafrul Abdul Aziz told CNA the country is likely to meet the official growth forecast of…

Singapore's economy grows 4.8% in Q2

Singapore’s economy grows 4.8% in Q2

Preliminary data shows that Singapore’s economy grew by a slower-than-expected 4.8 per cent on-year in the second quarter. The advance estimates fall short of a Reuters poll forecast of a 5.2 per cent growth. On a quarter-on-quarter basis, growth is…

Singapore's core inflation rises to 3.6% in May, highest in more than 13 years

Singapore’s core inflation rises to 3.6% in May, highest in more than 13 years

Singapore’s core inflation has surged to a 13-year high, driven by rising prices of food and utilities. It was 3.6% in May on a year-on-year basis. Including private transport and accommodation costs, headline inflation accelerated to 5.6%. All sectors saw…

Indonesia's priority is to protect purchasing power of people: Finance Minister Indrawati

Indonesia’s priority is to protect purchasing power of people: Finance Minister Indrawati

Indonesian Finance Minister Sri Mulyani Indrawati has defended Jakarta’s decision to curb palm oil exports to safeguard domestic interests. She added that there is a need to stay vigilant in the face of rising market volatility. Ms Indrawati also spoke…

India's GDP growth slows to 4.1%

India’s GDP growth slows to 4.1%

India’s GDP growth slowed to 4.1% in the March quarter — the slowest pace in a year. The country has also cut its full-year growth estimate to 8.7%. Subscribe to our channel here: https://cna.asia/youtubesub Subscribe to our news service on…

Thailand plans $20 billion budget deficit to bolster recovery

Thailand plans $20 billion budget deficit to bolster recovery

Thailand plans to stick to an expansionary fiscal policy to aid its recovery from the COVID-19 pandemic. Prime Minister Prayut Chan-o-cha’s government has proposed a higher spending worth more than $93 billion in its 2023 draft budget bill. The budget…

China risks missing its own growth targets with prolonged COVID-19 measures: IMF

China risks missing its own growth targets with prolonged COVID-19 measures: IMF

The International Monetary Fund has warned that any extension of China’s COVID-19 lockdown measures could severely hurt its economy. Ms Anne-Marie Gulde-Wolf, acting director of IMF’s Asia and Pacific Department, said China risked missing its own growth targets. Uncertainty around…

China's Q1 GDP beats expectations but COVID-19 lockdowns cloud outlook

China’s Q1 GDP beats expectations but COVID-19 lockdowns cloud outlook

The world’s second-biggest economy and largest manufacturing hub is facing mounting risks. Economists are expecting more pain ahead for China, even as its Q1 GDP growth of 4.8% beat estimates. Beijing has warned of significant challenges ahead as it battles…

Economists expect MAS to tighten monetary policy amid rising inflation

Economists expect MAS to tighten monetary policy amid rising inflation

Economists in Singapore expect the prices of goods and services to rise, but they said a tightening in monetary policy could slow or curtail the pace of increase. That’s what at least 10 financial houses that CNA spoke to expect…