2023 November
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Philippines Microeconomic Weekly Update #52
- November 28, 2023
- Posted by: Julia Garcia
- Category: Weekly Updates
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CASH REMITTANCES from overseas Filipino workers (OFWs) jumped by 2.6% in September amid steady demand for healthcare and maritime workers abroad.
Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed cash remittances coursed through banks rose by 2.6% to $2.91 billion in September from $2.84 billion in the same month last year. The amount of cash sent home by OFWs was the highest in two months or since $2.99 billion in July. -
Thailand Microeconomic Weekly Update #47
- November 28, 2023
- Posted by: Julia Garcia
- Categories: Thailand Weekly Economic Update, Weekly Updates
The Thai Digital Economy and Society Ministry has announced a major initiative to promote smart city development, offering a 50% corporate tax reduction for three years. Unveiled by DES Minister Prasert Chanthararuangthong at the “Thailand Smart City 2024” seminar, this policy aims to transform provincial hubs into smart cities focusing on areas like transport, energy, and the environment. Companies investing in these projects will benefit from the tax break and additional incentives like tax waivers on digital purchases in smart cities. This move is part of Thailand’s broader strategy to drive economic growth and sustainable urban development, leveraging technologies like the Internet of Things and Big Data.
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Thailand Microeconomic Weekly Update #46
- November 21, 2023
- Posted by: Julia Garcia
- Categories: Thailand Weekly Economic Update, Weekly Updates
The Cabinet sanctioned financial aid of up to 20,000 baht for farming families while economic indicators showed mixed trends: the Thailand Industry Sentiment Index hit a low of 88.4, and the Commerce Ministry targeted a 1.99% export growth for 2024, aiming at around US$288 billion. Credit card users will see higher minimum payments in the coming year, while labor demand surged by 10.8%, particularly in the recovering travel sector. The Bank of Thailand’s reserves dipped slightly from $214.1 billion to $212.8 billion by November 10
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Philippines Microeconomic Weekly Update #51
- November 17, 2023
- Posted by: Julia Garcia
- Category: Weekly Updates
THE GOVERNMENT hopes to make a nine-module interactive financial education program available online by January, citing the need to promote broader financial literacy.At the 2023 Financial Education (Fin-Ed) Stakeholders Congress on Tuesday, said the e-learning module is currently being pilot tested.The central bank has said that the Fin-Ed e-Learning Course will tackle financial planning, saving and budgeting, debt and investment management, digital-financial literacy, fraud and scam prevention, the Personal Equity and Retirement Account, and financial-consumer protection.
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Philippines Microeconomic Weekly Update #50
- November 7, 2023
- Posted by: Julia Garcia
- Category: Weekly Updates
Winds, natural gas, and solar power projects make up most of the projects in the medium-term pipeline, the Department of Energy (DoE) reported, citing data on “indicative” projects compiled as of August.The project timelines are between 2024 and 2026.The government hopes to increase the share of RE to 35% by 2030 and to 50% by2040. Last year, the DoE raised the Renewable Portfolio Standards requirement to 2.52% per annum starting 2023, from 1% per annum previously.
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Thailand Microeconomic Weekly Update #45
- November 7, 2023
- Posted by: Julia Garcia
- Categories: Thailand Weekly Economic Update, Weekly Updates
Prime Minister Srettha Thavisin announced plans for a May launch of a digital wallet scheme, granting a one-time 10,000-baht benefit to eligible citizens aged 16 or older with specific income and bank account criteria, to be spent within six months.