Asia Economy

Lower returns from the extraction and agriculture sectors and a global fall in commodity prices combined to curb Papua New Guinea’s economic growth in 2016, though prospects for a modest rebound this year are firming up.

Accelerated growth, backed by rising spending on infrastructure and domestic demand, were the hallmark of the Philippines’ economy in 2016, though offshore political and economic uncertainties could darken prospects for 2017.

Despite falling revenue from a weaker commodities market and concerns over political uncertainty, Malaysia’s economy maintained a steady growth rate in 2016, though expansion may come under pressure in the coming year.

A slow-paced economic recovery and ongoing concerns over political stability were the hallmark of Thailand’s year in 2016, though the new year should bring stronger prospects.

Slower economic growth and rising debt levels were the main themes of the past year, though Mongolia’s new government is acting to restore foreign investor confidence while seeking to curb the country’s growing budget deficit.