Thailand Sees 8.5% GDP Contraction as Virus Ravages Economy (Bloomberg) — Thailand’s economy will likely contract 8.5% in 2020, worse than previously estimated and the biggest decline of any Asian nation this year. The Finance Ministry’s forecast, released in Bangkok on Thursday, compares with a previous projection of 2.4% growth. The central bank is estimating…
Thai envoys instructed to help spur international trade, investment and labour pacts Thai ambassadors in countries across the world have been tasked by Prime Minister Prayut Chan-o-cha to help stimulate international trade and investment and fortify labour cooperation to rehabilitate the post-pandemic economy. Government spokeswoman Narumon Pinyosinwat said the premier also requested every organisation to…
Central bank mulls severing baht’s gold link to weaken gains Thailand’s central Bank is mulling breaking the baht’s link to gold as a way to weaken it without being labelled a currency manipulator by Washington. According to US Census Bureau data, Thailand’s trade surplus surpassed US$20 billion in the 12 months up to the end…