Japan: Recalibrating Policy Mix to Tackle Post-Pandemic Challenges and Contain High Inflation
The Japanese economy is projected to grow by 1.9 percent in 2023 and 1.1 percent in 2024.
Vietnam: Recalibration of Policy Mix to Support Growth amid Weak Global Demand
After the sharp slowdown in the first quarter of this year, Vietnam’s economic growth has picked up subsequently, with signs of increasing new orders and improving business confidence.
Singapore: Maintaining Stability and Navigating Global Uncertainty
Weighed down by a weakening global economy, the Singapore economy is expected to grow at a moderate pace in 2023.
Cambodia: Restoring Policy Space and Diversifying Economy Essential for Resilience and Sustainable Growth
Cambodia’s economy continues to recover solidly on the back of a strong rebound in the services sectors.
Hong Kong, China: Sustaining Economic Recovery in the Face of Heightened Uncertainties
The Hong Kong economy is poised to rebound strongly this year, before moderating towards trend growth next year.
The Philippines: Managing a Robust Recovery amid High Inflation and Structural Challenges
The Philippine economy maintained its robust growth momentum in the first half of 2023, following a multi-decade high growth rate of 7.6 percent in 2022.
Malaysia: Strengthening Economic Resilience Anchored by Robust Growth Momentum
Malaysia’s growth momentum is expected to be sustained this year by resilient domestic demand and stronger tourism recovery amid the global slowdown.
Thailand: Sustaining Recovery amid Uncertainty and Revitalizing Long-term Growth
The Thai economy is recovering robustly on the back of resilient domestic demand and a sustained rebound in tourist arrivals. Inflation, which spiked up sharply in 2022, has declined rapidly this year.
China: Transitioning from Pandemic-Induced Downturn to Sustained High-Quality Growth
Economic activities in Brunei Darussalam have picked up since mid-2022. Thanks to high vaccination rates, daily new cases of COVID-19 have declined sharply since April 2022, enabling containment measures and border restrictions to be lifted.
Lao PDR: Enhanced Fiscal and Monetary Discipline Essential for Continued Recovery with Macro-financial Stability
The Lao PDR’s economy is expected to maintain its recovery from the COVID-19 pandemic in 2023. However, currency depreciation and surging inflation are challenges to sustaining the economic recovery.