Risk-Averse Thai Investors Clash With Central Bank’s Baht Goals (Bloomberg) — The Bank of Thailand is scrapping obstacles for Thais to invest directly in foreign equities in an effort to stall the baht’s relentless rally, but will need to overcome locals’ traditional risk aversion for the program to succeed. Regulatory changes include raising the cap…
Exports show first uptick in eight months as global economy revives, beating estimates Thailand’s exports value in December gained year-on-year for the first time in eight months, by 4.71 per cent to USD 20.08 billion, beating market estimates of an 1.3 – 2.4-per-cent contraction, the Ministry of Commerce said on Friday. The exports figure hit…
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…
Thai economy to grow 4% in 2021 following 6.5% decline in 2020 The World Bank is now expecting the Thai economy to see 4% growth this year, and a 4.7% growth in 2022, despite current challenges from the new wave of COVID-19 infections. The World Bank now expects that the Thai economy to expand by 4 per…
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…
Bangkok condo prices expected to continue to fall this year Condo prices in Bangkok are falling and are expected to continue to fall throughout the year. The real estate market isn’t anticipated to pick back up again until the Covid-19 pandemic eases. The average prices of new condos in Bangkok are expected to fall by…
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…
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…
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…
Thailand Skipped Lockdown to Save Economy, But Growth Takes Hit (Bloomberg) — Thailand’s latest virus outbreak is likely to crimp consumer spending and delay a tourism revival, prompting warnings the economy may undershoot expectations for a rebound this year and next. Thailand hopes to avoid a full national lockdown to stem a wave of infections…