Since the issue of the reduction of the rate of the Central Bank bond
purchases the United States ( the Fed ) sticking June, interest rates in
different parts of the world started to rise .The influx of fresh funds to developing countries as Great Global
Monetary Easing program in 2012 and then began to decrease even
threatened stalled in 2014 .The Fed's move caused the economies of developing countries chaotic
look of the currency exchange , bonds , and stocks continued to weaken .Philstar.com like launch Monday in Asia , developing countries with
current account deficits swell as Indonesia and India in the spotlight .The amount of borrowing costs globally , the low flow of incoming
funds , and the threat of the evidence of the issue of the Fed , making
deficits in both countries increasingly uncontrollable .Among the countries of the region, the Philippine economy to be the
best compared to many battered neighbors like Indonesia , Thailand and
Malaysia .However, due to its geographical position close to these countries ,
the Philippines should also weakened the peso exchange rate and the
falling value of shares outstanding despite its economic performance .The following comparison of the economic condition of the Philippines and its neighboring countries :
1 . Indonesia : The surge in inflation and the fall in commodity pricesAmong the ASEAN countries , the exchange rate of the most severely weakened by 12.4 % this year . Indonesia suffered the highest inflation throughout the four years at 8.61 % in July .Meanwhile, the current account deficit goes even scored a record of U.S. $ 9.8 billion, equivalent to 4.4 % of Gross Domestic Product ( GDP ) in the first quarter of 2013 .The figure was the highest since the Asian financial crisis in 1997 . Foreign exchange reserves of Bank Indonesia ( BI ) was recorded reduced to U.S. $ 20.1 billion over seven months and the remaining U.S. $ 91.7 billion in July . These conditions make the central bank the Bank became the fastest slump this year .
1 . Indonesia : The surge in inflation and the fall in commodity pricesAmong the ASEAN countries , the exchange rate of the most severely weakened by 12.4 % this year . Indonesia suffered the highest inflation throughout the four years at 8.61 % in July .Meanwhile, the current account deficit goes even scored a record of U.S. $ 9.8 billion, equivalent to 4.4 % of Gross Domestic Product ( GDP ) in the first quarter of 2013 .The figure was the highest since the Asian financial crisis in 1997 . Foreign exchange reserves of Bank Indonesia ( BI ) was recorded reduced to U.S. $ 20.1 billion over seven months and the remaining U.S. $ 91.7 billion in July . These conditions make the central bank the Bank became the fastest slump this year .
2 . Thailand : Weak economic contraction in the current account andAfter Indonesia , Thailand has the most sluggish in the current account in the Southeast Asian region . Thailand's economy today is experiencing a recession after contracting by 0.3 % in the second quarter of 2013 .The result is the exchange rate of the Thai baht fell 4.9 % compared to the resistant or slumped 11 % from its highest exchange rate .
3 . Malaysia : High-risk experiencing withdrawal outMalaysian ringgit exchange rate fell to its lowest level in three years and recorded slumped 6.9 % this year . Although this neighbor country still has a current account surplus , but the surplus is the smallest since 1999 .The risk of capital flight out of Malaysia was the highest compared to other countries reached nearly 50 % of government bonds .
4 . Singapore : State investment havenUnlike the above three countries , Singapore is not vulnerable to the issue of risk reduction in the Fed's bond purchases . Singapore Dollar recorded a positive move .Current account of Singapore is very solid at 19 % of GDP in 2012 . Yet equity markets remain hit by the withdrawal of funds from outside investors which led to equity fell 4.4 % .
5 . Philippines : tremendous economic growth and a healthy external balancePhilippines showed GDP growth rapidly growing in the second quarter of this year by 7.5 % , able to balance out China as the country with the second-fastest growth in the world economy .Annual economic growth of the country is relatively stable over 7 % for four consecutive quarters . Healthy external balance recorded a current account surplus of 5.3 % of GDP in the first quarter of 2013.Nevertheless Philippines remains inevitable in a global withdrawal . Recorded peso fell 8 % . This is because the Philippines geographically neighboring third countries above . Meanwhile , the Philippine stock market is at its best with a great return of 4.5 % .
Reference : http://bisnis.liputan6.com/read/681010/filipina-geser-ri-jadi-negara-dengan-ekonomi-terbaik-asean
