"GDP"

SINGAPORE - Singapores economic growth will slow to between 3 per cent and 5 per cent next year amid an uneven recovery at home and lingering uncertainty over global growth, the Ministry of Trade and Industry (MTI) said on Wednesday (Nov 24).

Thailand gross domestic product (GDP) is expected to rise by 3.5 per cent to 4.5 per cent next year on economic recovery, Finance Minister Arkhom Termpittayapaisith said during the Thai Chamber of Commerces seminar on Saturday.

The University of the Thai Chamber of Commerce (UTCC) on Thursday (November 18) announced its estimation of gross domestic product (GDP) in 2021 at 1.5 per cent expansion due to a more comprehensive vaccine distribution, easing up of lockdown measures and reopening of some tourism provinces.

Thailand’s gross domestic product (GDP) in 2022 could expand to 3.5 to 4.5 per cent thanks to the improving Covid-19 situation and gradual recovery of tourism and exports, said the National Economic and Social Development Council (NESDC) on Monday.

South Korea has the highest ratio of household debt to gross domestic product (GDP) among major economies in the world, a report showed Monday, indicating it could crimp consumption and weigh on the economy down the road.

Total government debt as of the end of fiscal year 2022 will reach 2.3 trillion baht or 62 per cent of GDP, said Patricia Mongkhonvanit, director-general at the Public Debt Management Office (PDMO) on Wednesday.

The European Central Bank insists the current price spike will ease, though officials most up-to-date view will be revealed at a decision on the eve of those reports along with their assessment of an economy whose snapback from the pandemic is going awry.

Chinas GDP grew by 9.8 percent year-on-year in the first three quarters of the year to 82.31 trillion yuan ($12.79 trillion), compared with 12.7 percent in the first half, the National Bureau of Statistics said on Monday.

Thai household debt in the second quarter of 2021 recorded at 14.27 trillion baht, or 89.3 per cent of GDP, comparing to 14.14 trillion baht recorded in the first quarter, or 90.6 per cent of GDP, which was the highest point of household debt per GDP in the past 18 years, Kasikorn Research Centre revealed on Friday (October 1).

The Bank of Thailand (BOT) announced on Wednesday that it had maintained its estimation of gross domestic product (GDP) in 2021 at 0.7 per cent expansion, but increased its forecast of 2022 GDP to 3.9 per cent from its August estimation of 3.7 per cent.

The Asian Development Bank (ADB) has lowered Thailand’s 2021 GDP estimation to 0.8 per cent from its previous estimation of 3 per cent in April amid continuing concern over the Covid-19 pandemic across Asia.

China is expected to see 8.1 percent economic growth this year, as solid export performance and increased fiscal support in the second half will offset a more protracted recovery in household consumption, said economists at the Asian Development Bank.