Fitch sees 'very dim' path for GDP growth

Fitch sees ‘very dim’ path for GDP growth

Fitch sees ‘very dim’ path for GDP growth Despite several fundamental buffers to cushion against the crisis, Thailand’s near-term growth prospects are “very dimmed” due to substantial losses stemming from the absence of foreign tourist arrivals, said Fitch Ratings. “It is one of the economies that is most reliant on tourism flows. [Thailand] has been…

COVID-19 brings first consumer confidence drop in 3 months

COVID-19 brings first consumer confidence drop in 3 months Consumer confidence in December 2020 was measured at 50.1 points, down from 52.4 the previous month. Economic confidence was also down to 43.5 from 45.6 points. BANGKOK (NNT) – Concerns linked to the new wave of COVID-19 infections has weighed on both daily life and business, resulting in the…

Thailand’s rich not eligible for 3,500 baht government handout

Thailand’s rich not eligible for 3,500 baht government handout Thailand’s Finance Ministry has confirmed that wealthy citizens are not eligible for the government’s monthly cash handout of 3,500 baht. The Rao Chana (“We Win”) scheme consists of 2 monthly payments of 3,500 baht for those struggling with the financial fallout of the Covid-19 pandemic. Those with savings above a…

Economist predicts economy will shrink 8.9% this year, despite easing of restrictions

Thai Exports to grow 4% in 2021

Thai Exports to grow 4% in 2021 Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year. BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return…

SET dips below 1,400 points after gloomy Fed prediction

Thai economy set to lose $10 billion as Covid returns

Thai economy set to lose $10 billion as Covid returns Consumer confidence has slumped with the return of the virus sparking fears for Thailand’s economy and jobs situation – meanwhile the Thai stock exchange has revealed plans to add $16 billion in market capitalisation in 2021  Thailand’s economy could lose as much as 300 billion…

Thai baht lowest since January

Thailand’s slow economic recovery

Thailand’s slow economic recovery Author: Juthathip Jongwanich, Thammasat University Thailand’s economic performance in the third quarter of 2020 showed promising signs of recovery amid the ongoing COVID-19 pandemic. The contraction in GDP fell to 6.4 per cent year-on-year, down from 12 per cent in the second quarter. Signs of recovery in key industries such as electronics…