Thailand to likely slash GDP forecasts after new COVID-19 wave Thailand’s central bank will likely slash its economic growth outlook for both this and next year as the country struggles with a rapidly spreading third wave of COVID-19 infections. The new outbreak, driven in part by the highly transmissible B.1.1.7 variant, has caused over 26,000 cases and…
Export target likely to exceed 4% after Q1 bump The Commerce Ministry plans to upgrade its export growth forecast to more than 4% after Thai export value in March recorded 8.47% growth, driven by intensive economic stimulus policies in trading countries, worldwide vaccinations and higher crude oil prices. Thai exports were above US$20 billion for…
More closures in Bangkok, in force now It’s not a formal lockdown, but it may as well be, with newly announced closures from the Bangkok Metropolitan Authority. From Monday, April 26, a lot more services, public spaces and businesses around Bangkok are now closed. Additionally events will be limited to just 20 people, down from…
Thai village looks to get economy jumping with cricket farming BANGKOK — A unique project to breed crickets for human consumption is underway in a small village in northeastern Thailand, part of an effort to boost income in the country’s poorest region. Interest in insects as a sustainable source of protein is growing as the…
Government lowers international visitors to 3-4 million in 2021 BANGKOK (NNT) – The government has halved its expected number of international visitors this year as this month’s third outbreak of Covid-19 had battered tourism sentiment and the great uncertainty over how the pandemic would pan out. Tourism and Sports Minister Phiphat Ratchakitprakarn said the government…
Shopping centres, supermarkets and convenience stores to close an hour earlier in Red Zones With the rising reported cases in Thailand, The Thai Retailers Association and Thai Shopping Centre Association has adjusted closing times for shopping centres, supermarkets and your local convenience stores. The situation applies for red zone provinces only at this stage. The…
Commerce Chamber believes economy will grow once vaccinations are widespread BANGKOK (NNT) – Economic analysts have expressed a belief that if the government is able to hit its target of vaccinating 70 percent of the population, the economy could still grow 3-4 percent this year, urging the private sector to help fund the undertaking. President…