BoT slashes its GDP forecast again

BoT slashes its GDP forecast again The Bank of Thailand (BoT) slashed Thailand’s economic growth forecast for 2021 on Wednesday for the second time this year to 1-2%, largely depending on the procurement and distribution of Covid-19 vaccines. The central bank’s previous estimate of growth of gross domestic product (GDP) was 3% but it now…

Thai second-quarter GDP to post record contraction, slow recovery seen: Reuters poll

Finance Ministry Reduces 2021 Growth Forecast to 2.3%

Finance Ministry Reduces 2021 Growth Forecast to 2.3% Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the ministry slashed its forecast for the number of foreign tourists to only 2 million this year from 5 million it had predicted three months ago. BANGKOK (NNT) – The Finance Ministry has reduced its 2021 economic growth forecast…

Thailand Plans $7.2 Billion Stimulus to Rescue Virus-Hit Economy

Thailand Plans $7.2 Billion Stimulus to Rescue Virus-Hit Economy

Thailand Plans $7.2 Billion Stimulus to Rescue Virus-Hit Economy (Bloomberg) — Thailand is planning to spend billions of dollars in providing financial relief to low-income groups to cope with the economic hit from the biggest Covid-19 outbreak sweeping the nation since the pandemic began. The cabinet gave in-principle approval on Wednesday for fiscal stimulus measures…

Thailand Holds Rates, Warns on Growth Amid Its Worst Covid Wave

Thailand Holds Rates, Warns on Growth Amid Its Worst Covid Wave

Thailand Holds Rates, Warns on Growth Amid Its Worst Covid Wave (Bloomberg) — Thailand’s central bank kept its benchmark interest rate unchanged for an eighth straight meeting, warning its forecast for an economic recovery was threatened by the country’s biggest virus wave since the pandemic began. The Bank of Thailand held the policy rate Wednesday…

Thailand Accelerates Registration of GI Products in 4 Countries

Thailand Accelerates Registration of GI Products in 4 Countries

Thailand Accelerates Registration of GI Products in 4 Countries BANGKOK (NNT) – Thailand is speeding up registration of geographical indication (GI) products in 4 countries, to prevent foreign vendors from claiming that they make the products and to helpincrease Thai exports during the pandemic. Department of Intellectual Property deputy director-general Prayoth Benyasut said applications for…