Monthly Regional Update (August 2020)

Regional Economic and Policy Developments in August

ASEAN: Total remittances are expected to drop by between 9.9% and 18.6% from baseline in 2018

Cambodia launches measures to boost tourism; rising infections worldwide could delay travel bubble program

 

Lao PDR: To build ASEAN’s largest wind farm in the country, diversifying its energy generation mix

Myanmar: Government creates special economic zone in Mon State, capitalizing on strategic location to attract FDI 

Japanese retailers are tapping into Myanmar’s retail market, affirming vast opportunities

Vietnam: Re-imposing lockdown in Danang might drag recovery but full-year growth would remain positive

Indonesia: 2Q20 GDP contracts by 5.3% YoY, the sharpest drop since 1Q99; economy has bottomed-out

 

Philippines: Economy is in recession after GDP shrank by 16.5% in 2Q20; growth outlook could be derailed by a surge in COVID-19 cases

Philippines’ real interest rate is negative but further monetary easing is likely