Asia Economy

A surge in liquefied natural gas (LNG) exports is expected to nearly treble the pace of economic growth in Papua New Guinea in 2015 putting the South Pacific island nation at the top of the league of fast-growing economies and helping it bridge a widening budget deficit. 

As incoming Indonesian president Joko “Jokowi” Widodo prepares to take the reins on October 20, speculation is growing that the way in which he tackles cutting the huge fuel subsidies may come to define his presidency. 

Buoyed by a rise in consumer spending, Thailand narrowly avoided a technical recession thanks to a surprise upswing in the second quarter. The new government is hoping this shift, combined with its own plans to increase public spending across key sectors, will help entice investors.

The economy defied expectations in Malaysia by maintaining a high level of growth in the first half of 2014 at 6.3%, according to new figures released in mid-August, though any weakening in exports could see the rate of expansion ease marginally towards the end of the year and into 2015.

In a bid to lower trade barriers and eliminate Customs duties, Mongolia has struck its first major trade deal with Japan, which could pave the way for a broader network of free trade agreements (FTAs) while also boosting its chances of becoming a trade and logistics hub in the years to come.

A diplomatic approach towards regional issues has strengthened Malaysia’s efforts to boost trade and investment ties with China, setting the scene for the two countries to roll out an ambitious programme of increased financial cooperation.