Thai economy
- Business News
Business recovery in the Covid-19 era
As some countries begin to tentatively look to reboot their economies in a Covid-19 world, what does the future hold for business? Nation Thailand reports today on an extensive Bank of Thailand survey that examined the impact of the pandemic on four business sectors and what might happen next. Things are looking a bit brighter for the manufacturing and retail…
- Economy News
Academics say virus will make inequality in Thai society even worse
Leading academics from Malaysia and Thailand say the outbreak of the Covid-19 virus will only exacerbate the substantial wealth inequalities in Thailand, a country where so many citizens are already at a significant economic disadvantage. Writing in The Diplomat, M Niaz Asadullah from the University of Malaya and Ruttiya Bhula-or from Chulalongkorn University in Bangkok, say the collapse in tourism…
- Politics News
Government refuses Opposition’s request for debate on executive decrees
Calls from Opposition parties for a special session of parliament to debate the Thai Government’s executive decrees have been given short shrift, with the government saying the debate will have to wait until May 22, when parliament is set to reconvene. The three decrees relate to the procurement of significant loans, reported to be up to 1.9 trillion baht, in…
- Economy News
Eat Shop Spend version 2 on the way, but no cash giveaway
After feedback from the successful “Chim-Shop-Chai” (Eat-Shop-Spend) campaign, the Minister of Finance says campaign will now be extended into Phase 2 but with the criteria and regulations adjusted to attract more people with purchasing power to spend their own money, without the 1,000 baht per person give-away. The Minister of Finance Uttama Savanayana says there have been 1.3 million persons so…
- Economy News
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…
- Economy News
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…
- Economy News
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…
- Business News
Soaring baht continues to court investors and speculators
The Thai baht continues to be the best performing currency in Asia. On a year-on-year basis it has soared more than 8% against the USD and this year reached a six-year high. But the strong currency threatens the country’s exports and tourism, two major drivers of Thailand’s economy. Thailand continues to have solid economic fundamentals, a high current account surplus and…
- Business News
Growth of Thai economy lowest in nearly five years
PHOTO: Supply Chain Asia The Thai economy registered growth of just 2.3% in the second quarter of 2019, compared with 2.8% in the first quarter. This is the lowest rate of growth in 19 quarters, according to Tossaporn Sirisamphan, secretary-general of Thailand’s economic think-tank, the National Economic and Social Development Board. Tossaporn warns that although the situation is not yet…
- Business News
“Government stimulus package for Thai economy is unsustainable”
PHOTO: Wikipedia Anusorn Tamajai, an economist from Rangsit University, says he expects the proposed package to make little difference and has declared it unsustainable. The package, which should be approved this week, is worth 370 billion baht and includes cash handouts for farmers and low-income earners, grants for children, incentives for domestic travelers, and tax incentives for small businesses. It’s…
- Politics News
PM holds urgent meetings with Thailand’s economic tsars today
The PM has put himself in control of Thailand’s economic matters nominating himself as Chairman of the Council of Economic Affairs. Today the PM Prayut Chan-o-cha holds talks with top officials of four key economic institutions on the budget bill as the economy, which has been a regional leader over the past decade, stutters. Academics are calling for cuts in military…
- Business News
Thailand’s headline inflation surged over 1% in March
“The SCB Economics Intelligent Centre has revised down its forecast for average headline inflation in 2019 to 0.9% year on year, a slight decline from the previous forecast of 1.0%year on year.” Thailand’s headline inflation surged to 1.24%, year on year, during March. This is up from 0.73%, year on year, in the previous month. Food and energy prices are the…
- Business News
Thai exports fall 5.7 percent in January, year-on-year
Thai export results have dipped for the third straight month, falling more than 5.65% compared to a year earlier. The fall was a lot bigger than expected, according to the Thai commerce ministry. Shipments contracted 1.72% in December, compared to a year earlier as well. January’s export drop was due to falling shipments of rice, gold, electronics and cars, according to the…
- Bangkok News
Thailand should prepare for global economic slowdown
The global economy is in disarray with no clear direction. This is the stark warning from Supachai Panitchpakdi, former director-general of the World Trade Organisation. He also says that the US-China trade war is having an adverse impact on investor confidence, Investors don’t know where to safely invest, because the trade war could easily disrupt global supply chains, he said. Supachai,…
- Business News
Thai economy’s growth in 2018 projected at 4.5% – World Bank
Things are looking up for more economic smiles in the Land of Smiles with more positive news coming out of the World Bank. Projections are being revised upward, again. The World Bank says it’s adjusted its projections for Thailand’s economic growth upward, for the whole of 2018, to 4.5%, from the previous projection of 4.1%. The announcement comes from Kiattiphong…
