Singapore's Private Sector Economy Grows for 20 Consecutive Months

By / SSTV / Updated: 11:19,11-August-2022

According to S&P Global, a financial analysis company, Singapore's purchasing manager index rose to 58 in July from 57.5 in June. Driven by strong global demand, the output and orders of the country’s private sector increased significantly in July, accelerating the recovery of industries. Singapore's private sector economy has grown for 20 consecutive months and recorded the second fastest growth in the month. In addition, due to concerns about the rising living costs and the global economic downturn, the business confidence of private enterprises in July was significantly lower than that of last month.

Cambodian Government to Launch New Financial Policies

The Ministry of Economy and Finance of Cambodia said that the government has been paying close attention to domestic inflation and would consider reducing the import duties and exempting the value-added taxes of some commodities to mitigate the impact of rising prices. Over the past three years, the Cambodian government has allocated a total budget of nearly $3 billion to deal with the impact of the COVID-19 pandemic. Specifically, the budget was $824 million for 2020, $1.29 billion for 2021 and $800 million for 2022.

Thailand May Become World’s 2nd-Largest Rice Exporter This Year

Statistics from the Thai Rice Exporters Association and Customs Department show that Thailand’s rice exports in the first six months of this year surged 56.6% to 3.5 million tonnes, bringing in 60.93 billion baht in revenue, an increase of 42.9% year-on-year. In June alone, Thailand exported 764,131 tonnes of rice worth 13.12 billion baht. Agriculture and Cooperatives Minister Chalermchai Sree-on said that the increase in export would help boost the price of rice in the country. He also added that, Thailand should be able to beat Vietnam and become the world’s second-largest rice exporter if it can export more than 7 million tonnes of rice this year.

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