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IMF maintains forecast of RoK growth rate in 2017

The International Monetary Fund (IMF) kept its forecast for economic growth in 2017 of the Republic of Korea (RoK) at 2.7 percent, despite signs of a recovery in the country's exports.
IMF maintains forecast of RoK growth rate in 2017 ảnh 1Illustrative photo (Source: AFP)

Hanoi (VNA)🅺 - The InternationalMonetary Fund (IMF) kept its forecast for economic growth in 2017 of theRepublic of Korea (RoK) at 2.7 percent, despite signs of a recovery in the country'sexports, according to Yonhap news agency.

The projection by the IMF is slightlyhigher than the 2.6 percent growth forecast by the Bank of Korea. Last year, theRoK economy expanded by 2.8 percent. Yonhap also cited a new report of the KoreaDevelopment Institute which said exports and investment of the RoK maintain ahigh growth rate, signalling that the economy continues to expand moderately. In a recent speech, acting President of theRoK Hwang Kyo-ahn affirmed that the Government will spare no effort to meet thedemand of businesses through providing information and financial aid andboosting cooperation with foreign governments. He also stressed the significance of localfirms in generating jobs and economic recovery of the RoK.-VNA
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Malaysia's Petronas Twin Towers (Photo: AFP)

Malaysia plans sales, service tax hikes

The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
Philippines seizes 175 million USD meth haul

Philippines seizes 175 million USD meth haul

Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
Permanent Secretary of the Thai Ministry of Commerce, Vuttikrai Leewiraphan. (Photo: thainews.prd.go.th)

♋ Thailand engages USTR on five-point trade proposal

Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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