Cambodia to post surplus, Philippines to see 3.4% deficit in 2025: IMF

The Philippines is forecast to suffer the biggest deficit among ASEAN economies (3.4 per cent), followed by Myanmar (2.4 per cent), Indonesia (1.5 per cent) and Laos (0.1 per cent).

The IMF projected a relatively rare current account surplus of 2.3 per cent of gross domestic product (GDP) for Cambodia this year, reversing a deficit of 1.7 per cent last year. But this surplus is forecast to drop to 1.1 per cent of GDP next year, the IMF document noted. 

Singapore is forecast to have the biggest surplus—17.2 per cent of GDP.

Among the other ASEAN economies, Brunei ranks next (15.4 per cent) followed by Vietnam (3.2 per cent), Malaysia (1.6 per cent) and Thailand (1.2 per cent).

Among the other five members of the Regional Comprehensive Economic Partnership, South Korea is forecast to record the biggest current account surplus (3.5 per cent of GDP), followed by Japan (3.4 per cent) and China (1.9 per cent). New Zealand is projected to suffer the biggest deficit (4.9 per cent), followed by Australia (3.1 per cent).

The IMF said current account balances were expected to shrink over the next five years on a global basis.

Fibre2Fashion News Desk (DS)