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Economy

Southeast Asian economic growth regaining speed

Philippines, Vietnam seen driving 5% surge

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Vietnam is logging rapid economic growth, backed by cheap wages and a highly educated workforce.   © Reuters

SINGAPORE -- Southeast Asian economies should collectively grow by around 5% this year and next, propelled by such fast-growing contributors as the Philippines and Vietnam, a regional observer group says in a report released Thursday.

Real gross domestic product is likely to grow by 4.9% in 2017 and 5.1% in 2018 in the Association of Southeast Asian Nations bloc on healthy domestic demand, reports the ASEAN +3 Macroeconomic Research Office, or AMRO. The average growth rate from 2014 to 2016 was 4.2%.

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