World bank data

Hanoi (VNA) – Indonesia’s Jakarta administration has decided to extend the closure of tourist destinations and entertainment venues until April 19 as part of the capital’s effort to contain the spread of COVID-19. Head of the Jakarta Tourism and Creative Economy Agency Cucu Ahmad Kurnia said previously, the Jakarta administration announced the temporary closure of city-owned tourist destinations and entertainment venues from March 23 to April 5. The Indonesian government has outlined a worst-case scenario where the domestic economy contracts by 0.4 percent as the COVID-19 pandemic arrests swaths of economic activity and poses recessionary risks to Southeast Asia’s largest economy, said Finance Minister Sri Mulyani Indrawati. Indonesia’s economy grew by 5.02 percent last year, already the slowest in four years. The World Bank has estimated that the COVID-19 pandemic will significantly slow Indonesia’s economic growth this year – 2.1 percent … [Read more...] about Indonesia extends closure of tourist destinations to contain COVID-19 spread

Hanoi (VNA) – Millions of labourers in Southeast Asia could lose their jobs as economies grind to a halt due to impact of the COVID-19 pandemic, according to a report by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). In the policy paper on the Asia Pacific region issued on March 26, ESCAP noted that while exact data on the impact of the pandemic on employment remained unavailable, the impact is likely to be substantial as services and labour-intensive manufacturing comprise over 80 percent of the region's informal sector and small and medium enterprises (SMEs) and contribute to most of the jobs in the region. The report stressed the need for countries with weak social protection systems to have ample policy space to save jobs and support minimum living standards for households. Meanwhile, in its report issued on April 3, the Asia Development Bank projected that growth in Southeast Asia will decelerate from 4.4 percent in 2019 to 1 percent … [Read more...] about COVID-19 to force millions of Southeast Asian labourers to lose jobs

Bangkok (VNA) – Thailand’s new economic package to mitigate the impact of the COVID-19 pandemic will be worth about 10 percent of its gross domestic product (GDP), Deputy Prime Minister Somkid Jatusripitak has said. Deputy PM Somkid stated that the package will cover all economic sectors for at least the next six months. If possible, final approval will be sought from the cabinet on April 7, he added. He did not give a specific value for the package, but the GDP of Southeast Asia’s second-largest economy last year was 16.88 trillion baht (512.76 billion USD). The measures will be partly financed by the fiscal budget and borrowing, he said. The latest package follows last month’s two sets of stimulus measures together worth more than 500 billion baht. The Bank of Thailand (BOT) expects the country’s economy to contract 5.3 percent this year, the worst since the 1998 Asian financial crisis./. … [Read more...] about COVID-19: Thailand’s new economic package to be worth 10 percent of GDP

Photo for illustration Meanwhile, in its report issued on April 3, the Asia Development Bank projected that growth in Southeast Asia will decelerate from 4.4 percent in 2019 to 1 percent this year before rebounding to 4.7 percent in 2021, partly because of the region's strong trade and investment ties with China. … [Read more...] about COVID-19 to force millions of Southeast Asian laborers to lose jobs

It said residents living in the two cities will receive food and logistical support from the province to ease difficulties during the pandemic. All people returning from the two cities will be kept at quarantine sites for 14 days as per a decision released by the province last week. … [Read more...] about Only one new case of COVID-19 reported in Vietnam today