The Knowledge to Decide

The Philippines is emerging as one of Asia’s most dynamic economies, with a forecasted growth rate of 6.9 per cent in 2018 driven by investment and private consumption. The economy recorded growth of over 6 per cent in 2017, for the sixth straight year, thanks to buoyant government spending, exports and a recovery in the agricultural sector. Will this Southeast Asian tiger be able to maintain its momentum? A growing economy While advanced economies like the United States, Europe and Japan are growing at slow rate, a number of emerging economies like the Philippines continue to surge ahead. With annual growth expected to reach 6.9 per cent by 2018, the Philippines now ranks as the 10th fastest growing economy globally. Owing to strong domestic demand and government projects, the country’s economy is on the rise. The government’s expansionary fiscal policy has aided capital formation and credit growth, whereas low inflation has strengthened private consumption. Path

Vietnam’s economy has been among the fastest growing in Southeast Asia. Today, it is a key destination for Foreign Direct Investment (FDI) in the region. In 2016, FDI climbed to USD24.4 billion, a 9 per cent growth compared to 2015. This is despite Vietnam suffering an epic drought in 2016 and a third of its vast population of 93 million people living in poverty. Vietnam has won a reputation as a cheaper manufacturing hub compared to China. Could FDI propel Vietnam to become Asia’s next Tiger economy? A growing economy With a USD200 billion Gross Domestic Product (GDP), Vietnam’s economy is tracking well since the start of deep economic reforms – known as Doi Moi – in 1986. Since 1990, its GDP per capita growth has been one of the fastest among emerging economies, at an average 6.4 per cent (yearly) growth in the 2000s. Vietnam has improved provision of basic services. In 2014, the part of the population living below poverty line fell to 13.5 per cent – down from approxim

India’s government hopes that the Goods and Services Tax (GST) will be a game changing reform for the Indian economy, creating a common Indian market and reducing confusing multiple taxes . It is forecasted to raise India’s GDP growth rate by over one percentage point . Will the GST really live up to these expectations? Demystifying the GST bill Hailed as one of the biggest taxation reforms in India, the Indian GST is a comprehensive indirect tax structure, to be levied at all points in the supply chain – manufacturing and sale of goods and services at a national level. At present, India is home to multiple taxes separately managed by Central and State governments, such as the Central Excise duty and Custom duties. Moreover, Value-added Tax (VAT), entry tax, luxury tax and entertainment tax come under the State level. Once the GST is implemented, all these taxes will come under a single tax structure, leading to a common market with the removal of fiscal barriers betwee