AEIR 2021

GDP growth accelerated to 6.5% in 2018 as government spending helped resume development partner-supported capital projects after several years of stagnation. The robust economic activity led to sharply higher inflation in 2018, especially for alcoholic beverages and transportation. Fiscal stimulus has remained substantial despite a slight slowdown in 2019. Consequently, economic growth is estimated to have slowed in 2019, following some moderation in the growth of visitor arrivals. The outlook for 2020 and 2021 will continue to depend heavily on tourism and the pace of infrastructure construction.

Source: Asian Development Outlook 2020, ADB

Initiatives / FTAs