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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Thais clamour for the “Chim, Shop, Chai” 1000 baht give-away program
PHOTO: buriramguru.com The “Chim, Shop, Chai” (Eat, Shop, Spend) program has been a resounding success, and it’s still got a another five days or so to go. Thai citizens can apply for the 1000 baht ‘gift’ from the government and spend the money at selected shops anywhere outside their home province. The government only accepts one million applications each day so,…
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PM says Thailand plans to be a high income country within 17 years
PHOTO: AFP The PM General Prayut Chan-o-cha has high ambitions for Thailand within the next 17 years, saying the government aims to see it become a high income country. The PM made the claim while attending a lunch meeting with the Asia Society for Executives and foreign media in New York. He says the government has spent the last five…
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Asian Development Bank drops growth forecast for Thailand
“The bank forecasts a slightly higher growth rate at 3.2% next year, due largely to infrastructure investment in the Eastern Economic Corridor.” The Asian Development Bank is lowering its growth forecast for Thailand’s economy from 3.9% to 3% but is optimistic that conditions will improve next year. “The bank forecasts a slightly higher growth rate at 3.2% next year, due…
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Chim-Shop-Chai – more than a million already register for the latest Thai stimulus package
Interest in the government’s latest stimulus package has been massive with online portals being battered by people wanting to know more about how they can get their hands on the 1000 baht give-away from the Thai government. More than a million people have already registered to join the government’s Chim-Shop-Chai (Taste-Shop-Spend) program, where they will receive a 1000 baht to…
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Thailand’s August exports fall further than expected
Some more lumpy economic news for Thialand as the focus is on the monthly customs clearances to provide a compass for the country’s economy. Customs-cleared exports dropped in August 4% compared to the same month a year earlier. Exports unexpectedly rose in July, according to the commerce ministry today. The decline in August has shown itself to be greater than…
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Focus on quality over quantity, says leading Thai economist
PHOTO: Sbs.com.au One of Thailand’s leading economists says we’ve got it all wrong and the country needs to change the way it thinks about the economy. Pasuk Phongpaichit from Chulalongkorn University says Thailand should stop focusing on growth and consumption and prioritise quality of life instead. She was speaking at the Fukuoka Prize Symposium in Japan earlier this week. Pasuk…
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Strong baht poses a tough challenge for Thailand
PHOTO: Dreamstime.com Thailand’s currency is currently giving it a major economic headache, according to a Bloomberg report shared by ThaiVisa this morning. The Thai baht has been the best performer globally against the US dollar for over 5 years now, but that strength has caused growth estimates to be cut for an economy relying on trade and tourism. The ongoing…
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What goes up must come down – the battle of the baht
Newton’s law looms over the Thai baht. Meanwhile, the Thai baht continues to be the best performing currency in Asia. The Thai currency is riding a 6-year high against the USD and, this year, has surged 8% against the US currency. But the strong baht is causing knock-on effects to the rest of the Thai economy, battering exports and stifling tourist…
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Asian stock markets mostly rise on positive news
“China announced it would resume trade talks with the US in Washington next month.” Most Asian equities and currencies rallied today, building on the previous day’s advance as investors were cheered by a number of positive developments on trade, Hong Kong and Europe. Markets were already on an upward trajectory after the leader of Hong Kong withdrew a controversial extradition…
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Thai economic committee warns about stagnant growth in second half of 2019
The Joint Standing Committee on Commerce, Industry and Banking says they’re concerned by threats to the performance of the Thai economy in the second half of this year. The office says the lack of stimulating factors and the project of an ever-stronger baht will stifle economic expansion and the economy will fail to reach targets. The JSCCIB President Preedee Daochai…
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Central Bank of Thailand voices concern over impact of economic slowdown
PHOTO: Thai PBS World The Bank of Thailand has expressed concern about the country’s rising household debt as a result of the sluggish economy. The bank’s assistant governor Titanun Mallikamas was speaking on Monday, in response to the National Economic and Social Development Council raising the matter at a press conference. “We are closely monitoring household debts, as Thai families…
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