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WASHINGTON, May 18 (Xinhua) -- The International Monetary Fund (IMF) chief said on Wednesday that the Russia-Ukraine war has led to food shortages and sharply higher prices, urging the international community to take fast, well-coordinated actions to tackle food crisis.
VIENTIANE (Vientiane Times/Asia News Network): The Asian Development Bank has predicted that the annual average rate of inflation in Laos will jump to 5.8 per cent in 2022 and 5.0 percent in 2023.
Less than 10 days before the national and local elections held every six years in the Philippines, presidential aspirants are crisscrossing the archipelago, wooing voters with plenty of promises and dancing and singing performances despite the Covid-19 threat.
HANOI (Vietnam News/Asia News Network): Fiscal policies have worked to promote economic growth and control inflation in the first months of this year, Deputy Minister of Finance Võ Thành Hưng said, adding that close watch would be placed on the market to ensure inflation was within the National Assembly’s target.
VIENTIANE (Vientiane Times/Asia News Network): Laos is committed to further promoting renewable energy and investments in low-carbon sectors to achieve carbon neutrality by 2050.
Joko Widodo, when he took the oath of office in 2019 to start his second term as president, vowed that the average income of Indonesians would more than triple by the middle of the century, pushing the country into the ranks of modestly high income economies such as Poland and Chile.
Many Asian economies are facing up to the twin food and energy supply shocks from the war in Ukraine better than most other regions of the world. But the threats are far from over, warn experts in an Asia News Network webinar.
Structural reform efforts need to be continued to diversify Brunei's economy to improve its economic growth prospects. This was highlighted by ASEAN+3 Macroeconomic Research Office (AMRO) in its annual ASEAN+3 Regional Economic Outlook (AREO) report.