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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BOT predicts 5.3% contraction in Thai economy for 2020
Even the Thai economy, which was still maintaining respectable growth before January, is now spluttering under the siege of the Covid-19 virus. Now the Bank of Thailand has crunched some numbers and believes the Thai economy will sharply contract by 5.3% this year as the virus continues to weigh on global financial markets, the local economy and people. GDP growth…
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The almighty baht set to fall further despite rate cuts, stimulus
A lot has changed for the baht. It was only months ago that The Bank of Thailand considered drastic measures to rein in the rambunctious baht, whose massive gains in currency markets made it the darling of speculators. In December Kasikorn Bank released a report outlining reasons the baht “will remain strong into 2020.” The bank’s research arm forecast the…
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Airlines offered drop in landing fees and fuel excise at Thai airports
Airlines, international and domestic, have been hit hard with the impact on travel following the Coronavirus outbreak. Over the past month there’s been daily announcements of cancellations of flights and rescheduling to cope with border closures and daily changes in the coronavirus evolution. The Thai Cabinet yesterday approved a relief package which had been proposed by the Transport Ministry for…
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Cabinet approval to reduce water, power bills by 3%
The Cabinet has approved 17 billion baht in measures to tackle the Covid-19 crisis and drought. They plan on doing this by reducing water and electricity bills by 3% and returning deposits for installation of electricity meters. The Thai cabinet meets every Tuesday at Government house in Bangkok. During a ‘grace period’ of not more than six months, the cabinet…
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Thai stocks tumbles, SET drops nearly 6%
Thailand’s stock exchange, the SET, plunged yesterday along with the region’s other bourses. The index dropped amid concerns over the growing global Covid-19 coronavirus pandemic. The SET dived 74.57 points, or nearly 6%, to 1,175.32 points. This all happened shortly after the open in a turnover of 9 billion baht. The SET50 index, Thailand’s top 50 listed companies, faired even…
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400 billion baht stimulus announced to boost Thai economy
“The package will inject an estimated 400 billion baht into the economy in a bid to return growth to positive territory.” Yesterday’s Thai cabinet meeting gave the greenlight to a new stimulus package. The government expects the approved 400 billion baht to reduce the impact of the Covid-19 coronavirus outbreak. Last week’s 2,000 baht cash stimulus proposal, which was largely…
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Thai PM Prayut quashes 2,000 baht handout package
Easy come, easy go. Well that was quick. Last Friday’s announcements for 2 x 1000 baht handouts to poorer Thai citizens has been quashed by the PM. Prime Minister Prayut officially shelved plans to hand out the cash to low income earners. Last Friday the Finance Ministry made the announcement for a new round of stimulus packages to prop up…
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Government looking at ways to lower public electricity bills
The ministry is also studying ways to lower the price of cooking gas and fuel. Thailand’s Energy Ministry is examining ways to lower electricity bills for the general public to ease their burden in response to the impact of Covid-19 on the economy, according to Energy Minister Sontirat Sontijirawong. The ministry’s permanent secretary has been asked to call a meeting…
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2000 baht handouts for low-income Thais
Thailand’s Council of Economic Ministers today endorsed a Finance Ministry proposal to provide low-income Thais 2000 baht each via an e-payment channel. Finance Minister Uttama Savanayana said after a meeting this afternoon that there will be a 1000 payment for two consecutive months for low-income earners, farmers and freelancers. The number of people eligible has yet to be calculated. The…
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Finance ministry announces new stimulus packages and tax breaks
Thailand’s Finance Ministry has announced a raft of new stimulus measures to help prop up parts of the Thai economy suffering under the impact of the coronavirus. They say the measures will assist “all sectors of Thai society currently affected by the Covid-19 situation”, which arrived at the same time as an economic slowdown, an export slump and drought. The…
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