My Google Page Rank

Southeast Asia to keep growth momentum through 2016 - OECD

PDFPrintE-mail

Growth for six Southeast Asian economies will slow down but overall will keep a solid growth momentum through 2016 although global uncertainties and natural disasters shed a negative light on the growth prospects of the region, the Paris-based OECD said in its Southeast Asian Economic Outlook (SAEO) released Tuesday.

In the six Southeast Asian economies, namely Indonesia, Malaysia, the Philippines, Singapore, Thailand and Viet Nam, the OECD figure shows that the real Gross Domestic Product (GDP) growth will be 5.0 percent in 2011, and is projected to be 5.6 percent during 2012-2016, 2 percent lower than in 2010.

The new release came at a time after the Organization for Economic Cooperation and Development which groups 34 advanced economies forecast a looming recession in the area in its Monday's publication of the OECD Economic Outlook.

As the OECD economies remain sluggish, Director of the OECD Development Center Mario Pezzini said "Every cloud has a silver lining. The global uncertainty is an opportunity to re-invent growth," noting that a new type of economic growth is needed in Southeast Asia.

The OECD in its report commended that Asia is becoming more balanced, inclusive and sustainable."Previously heavily dependent on external demand, domestic drivers will play a more important role in Southeast Asian economies going forward," said the report, citing the large-scale investments in infrastructure and private consumption driven by the growing middle class and reforms in social policies as two increasing engines of growth in the region.

According to the OECD, implementing structural policies necessary for enhancing productivity is critical to the success of Southeast Asian countries. Many Southeast Asian countries already recognize the need to shift their development strategies, focusing on human capital development, healthcare, infrastructure development, SME development, taxation, labor market reform and agriculture.

The OECD suggested a Green Growth as a viable development model for ASEAN countries in the long term.

"Although ASEAN's CO2 emissions remain modest relative to OECD countries, emissions from ASEAN countries are growing faster by 5.5 percent a year between 1990 and 2010 compared to 0.7 percent in the OECD," said the OECE in a news release, projecting that as a fast-growing economic bloc with a projected population of 700 million by 2030, ASEAN countries will make a much larger contribution to global CO2 emissions.

By PNA/Xinhua




Related news items:
Newer news items:
Older news items:

Add comment


Security code
Refresh

THANK GOD! It’s FRIDAY!

16 Nov 2018 Hits:73 Be the first to comment!

For the Tetuan Parish, that very common expression means literally just that, for on Friday, November 16, 2018, at 7 in the evening at the Centro Pastoral, the concert UN NOCHE DE OFRECIMIENTO, will wow its audience. The four-part concert aims to raise the roof with the rarely seen Broadway caliber talents of our singing and dancing priests. The first segment is the Filipiniana where the musical score is proudly Original Filipino Music of Ryan Cayabyab and regional favorites in Chavacano, Visayan and Tagalog. It is followed by religious renditions in part two like: Lay Up Your Treasures in Heaven, What A Friend and Amazing Grace. The 3rd part is, of course, Broadway with mega hits like Tonight from the West Side Story, Bridge [...] Read more

Prev Next Page:

Man stabbed in Rio Hondo

16 Nov 2018 Hits:89 Be the first to comment!

A bakery worker was stabbed and wounded by his co-worker in Sitio Hongkong, Barangay Rio Hondo, Zamboanga City on Wednesday night. Police Officer 3 Had-Anuar Edding, investigator-on-case, of Police Station 11 [...] Read more


Three nabbed for illegal drugs

16 Nov 2018 Hits:117 Be the first to comment!

Three persons were arrested when operatives of Police Station 9 seized from them 13 sachets of suspected shabu during a buy-bust operation at Barangay Recodo, Zamboanga City on Thursday dawn. Arrested [...] Read more


DOH 9 conducts training on GI, community-based treatment for PWUDs

15 Nov 2018 Hits:126 Be the first to comment!

The Department of Health Region IX (DOH 9) conducted the Training on General Intervention (GI) and Community-based Treatment Care Services for Person Who Use Drugs (PWUDs) from November 13-15, 2018. With [...] Read more


DENR-EMB 9 conducts SWM plan finalization of ZamPen LGUs

14 Nov 2018 Hits:150 Be the first to comment!

The Department of Environment and Natural Resources-Environmental Management Bureau (DENR-EMB) Region IX is conducting a 10-year Solid Waste Management (SWM) plan update and finalization of 33 local government units (LGUs) [...] Read more


Man accused of child abuse, arrested

13 Nov 2018 Hits:192 Be the first to comment!

Two teenagers filed a complaint for child abuse against a 55-year-old man at Police Station 7 last Sunday. Ellyn, married, a resident of Barangay Pasonanca, Zamboanga City, averred to the police [...] Read more


Brgy Chair nabs pedicab driver carrying shabu

13 Nov 2018 Hits:135 Be the first to comment!

A delivery boy was arrested in a buy-bust operation conducted by elements of Police Station 4 led by Chief Insp. Hazel Fernandez at Barangay Baliwasan, Zamboanga City  on Sunday. Police identified [...] Read more


Navforwem honors fleet-marine troops for rescue of KV Duterte

13 Nov 2018 Hits:206 Be the first to comment!

The Naval Forces Western Mindanao (Navforwem) has honored sailors, marines, Fleet-Marine personnel and navies for the successful rescue of kidnapped victim (KV) Jose Duterte and exceptional feats in the accomplishment [...] Read more


Police searching for armed man for mauling

12 Nov 2018 Hits:139 Be the first to comment!

A resident of Barangay Mampang, Zamboanga City, is now being hunted by personnel of Police Station 6 for mauling and totting his gun at another person on Sunday. Police report shows [...] Read more


Team Climaco condemns misinformation, fake news

09 Nov 2018 Hits:350 Be the first to comment!

Members of the Team Climaco have strongly criticized and condemned misinformation drive allegedly hatched by their political foes and propagandists, who are desperate to destroy the many and outstanding accomplishments [...] Read more


Man hacked by father-in-law

09 Nov 2018 Hits:154 Be the first to comment!

A man was hacked and wounded by his father-in-law at Sibiktol Drive, Barangay Arena Blanco, Zamboanga City, on Wednesday. The victim was identified as Jarrin Jalmaani y Gadong, married and a [...] Read more


More Filipinos to be engaged in HIV-AIDS awareness drive

08 Nov 2018 Hits:197 Be the first to comment!

The right information on HIV-AIDS will curb the spread of this disease. But putting information out there isn’t enough, a senior government official believes. There has to be constant engagement [...] Read more


CHO: Fear of Dengvaxia prevents children from getting vaccines

07 Nov 2018 Hits:263 Be the first to comment!

Assistant City Health Officer Dr. Kibtiya Uddin reported that the fear of Dengvaxia vaccine has prevented children from getting other types of vaccines during City Hall's weekly press conference on [...] Read more


Army officer, 3 soldiers injured in clash with Abu Sayyaf in Sulu

07 Nov 2018 Hits:309 Be the first to comment!

An Army officer and three more soldiers were wounded in an encounter with Abu Sayyaf terrorists in Sulu province on Monday afternoon. Lt. Col. Gerry Besana,  spokesperson of Western Mindanao Command [...] Read more


Beng distributes relief goods to Triplet fire victims

18 Oct 2018 Hits:262 Be the first to comment!

Mayor Beng Climaco on Wednesday afternoon spearheaded the distribution of relief goods to families displaced by the early dawn fire in Lemon Drive, Triplet, Barangay Canelar. Mayor Climaco, assisted by personnel [...] Read more


DTI reports slight hike in prices of basic goods

18 Oct 2018 Hits:239 Be the first to comment!

Following its continuing monitoring of prices of all consumable goods in the local markets, the Department of Trade and Industry (DTI) has reported a slight increase in the prices of [...] Read more


OCENR preps SWM in barangays, basura run

18 Oct 2018 Hits:217 Be the first to comment!

The Office of the City Environment and Natural Resources (OCENR) is working to strengthen the capacities of local barangays in line with sanitation, particularly solid waste management. Public Services Officer IV [...] Read more


Mayor Beng files candidacy, vows to continue pro-poor programs

17 Oct 2018 Hits:277 Be the first to comment!

In an expected sea of supporters to join her today, popular Mayor Maria Isabelle “Beng” Climaco is scheduled to file her certificate of candidacy for re-election this morning at the [...] Read more


Team Colorao to file COC today

17 Oct 2018 Hits:210 Be the first to comment!

The “Team Colorao” alliance will be filing their official Certificates of Candidacy (COC) early morning today, October 17, 2018. The powerhouse four party alliance will be led by party standard bearer, [...] Read more