Economy News
Thailand economy news, business updates, financial markets, and government policies—stay informed on economic developments shaping the nation. Get the latest from The Thaiger, your trusted source for Thailand economic news.
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Thailand’s delayed 2024 budget bill presented in Parliament
The delayed budget bill for this year, amounting to 3.48 trillion baht (US$101.52 billion), was presented today by Prime Minister and Finance Minister Srettha Thavisin in the House of Representatives. This event marked the start of a three-day debate among lawmakers. PM Srettha emphasised the importance of the budget to Parliament. “The budget is crucial in moving the economy forward.”…
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Essential ascent: Despite fiscal twists, analysts predict vital goods to drive economic lift-off
Despite the financial rollercoaster, essential goods are set to expand. Analysts declare that essential goods will help boost the economy. The Thai Chamber of Commerce’s recent survey predicts a 1.5% dip in purchasing power, attributed to escalating interest rates, inflation, and the lingering pandemic hangover. Undeterred, consumers are rallying around staples like food, beverages, personal care products, household items, and…
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Thailand’s triumph and tribulations: OECD report urges bold reforms
Thailand has made good economic recovery post-pandemic, with tourism as a major boost, however, a recent report from the Organisation for Co-operation and Development (OECD) highlights the need for bold reforms to solidify and extend this triumph. The second OECD Economic Survey of Thailand commends the nation for averting a severe economic downturn during the pandemic, crediting robust fiscal support.…
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Export of Thai fruit faces competition from China
Deputy Commerce Minister Napintorn Srisunpang reveals a bumpy road ahead, with China’s market becoming a fierce battleground for Thai fruit exporters. In the opening 10 months of last year, Thailand exported 1.74 million tons of fruits, pocketing 174.27 billion baht. Thailand’s fruit royalty, including durians, longans, mangosteens, mangoes, and pineapples, dazzled the export scene. However, trouble lurks in the dragon’s…
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Thailand and China to implement mutual visa-free travel from March
Beginning in March, Thailand and China will roll out a mutual visa-free agreement. This arrangement means that citizens from both countries will not need to apply for visas when travelling to the other country. The scheme was announced by Prime Minister Srettha Thavisin after a Cabinet meeting, and it will take effect from the first day of March. The initiative…
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Thailand mulls tax-free local alcohol to boost economy and tourism
A breaking development unfolded at 10.10am yesterday, January 2, with Thai Prime Minister Srettha Thavisin making a significant announcement after a Cabinet meeting centred on boosting international tourism and the national economy. The Thai government is contemplating overhauling the excise taxes and duties structures, with an eye on making Thai local alcoholic beverages tax-free and prompting a review of related…
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Thai government cuts local alcohol tax to zero to boost tourism and economy
The Thai government has announced a tax reduction on local alcohol as part of a wider review of laws hindering domestic tourism and economic growth. Revealed on January 2 at the Government House, Prime Minister Settha Thavisin stated that the restructuring of excise and various national taxes, including reducing domestic alcohol tax to 0%, formed part of their strategy to…
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Thailand’s economy braces for slow growth
Thailand’s economy is set to experience slow growth in the coming years, with GDP forecasts for this year ranging between 3-3.4%. Several factors, including sluggish growth in exports, subdued Chinese demand for consumption and tourism, geopolitical risks, and a shortage of skilled workers, are expected to influence this. Despite these challenges, industry executives are optimistic and are devising strategies to…
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Gold prices predicted to hit record highs by 2024, says MTS Gold
MTS Gold, a local trader, predicted that gold prices are likely to skyrocket to new record levels of over 79,005 baht (US$2,300) per ounce and beyond 40,000 baht (US$1,164) per baht weight by this year. This forecast comes amidst anticipated adverse global economic situations. Kritcharat Hiranyasiri, the President of MTS Gold, explained that the anticipated decline in interest rates and…
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Thai investors anticipate surge in depositary receipts popularity in 2024
Executives anticipate a surge in the popularity of depositary receipts (DRs) among Thai investors this year, with the investment tool offering a gateway to high-profile foreign stocks, risk diversification, and potential high returns. As they have become more prevalent on the Thai bourse, investors held DRs worth around 16 billion baht (US$466 million) on the Stock Exchange of Thailand (SET)…
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