South East Asia to experience robust growth

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South East Asia will experience robust growth in the coming five years, with Indonesia in the lead, fuelled by its increasing reliance on domestic demand to drive expansion buffers it from global downturn, the OECD said.

Based on a report on South East Asia’s economic outlook, gross domestic products in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam will expand an average 5.6 per cent from 2012 to 2016.

Though relying on domestic demands will reduce risks of external shocks, the OECD urged them to remain vigilant over economic management against the downturn of events such as natural disasters and continued global uncertainties.

Asia’s policy makers are increasing efforts to defend their domestic economies from a possible recession that might aggravate faltering demand for the region’s exports. Indonesia cut its benchmark interest rate this month to a record low, and deadly floods in Thailand and storms in the Philippines have further dampened growth, adding pressure to ease borrowing costs.

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Reading Time: 1 minute

South East Asia will experience robust growth in the coming five years, with Indonesia in the lead, fuelled by its increasing reliance on domestic demand to drive expansion buffers it from global downturn, the OECD said.

Reading Time: 1 minute

South East Asia will experience robust growth in the coming five years, with Indonesia in the lead, fuelled by its increasing reliance on domestic demand to drive expansion buffers it from global downturn, the OECD said.

Based on a report on South East Asia’s economic outlook, gross domestic products in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam will expand an average 5.6 per cent from 2012 to 2016.

Though relying on domestic demands will reduce risks of external shocks, the OECD urged them to remain vigilant over economic management against the downturn of events such as natural disasters and continued global uncertainties.

Asia’s policy makers are increasing efforts to defend their domestic economies from a possible recession that might aggravate faltering demand for the region’s exports. Indonesia cut its benchmark interest rate this month to a record low, and deadly floods in Thailand and storms in the Philippines have further dampened growth, adding pressure to ease borrowing costs.

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