UTCC: 11.4% contraction in GDP forecast for 2020

UTCC: 11.4% contraction in GDP forecast for 2020

UTCC: 11.4% contraction in GDP forecast for 2020 Thailand’s economy is likely to contract by as much as 11.4% this year, its worst showing, attributed largely to the pandemic impact, volatile foreign exchange, widespread drought and the continued US-China trade spat. Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, said the…

PM visits Sisaket, follows up economic development

PM visits Sisaket, follows up economic development SISAKET (NNT) – The Prime Minister has made his first official trip since the COVID-19 outbreak to Sisaket province, observing the adaptation of people’s lives to the New Normal as well as following up on local economic projects. His first stop in the province was at Tubtim Durian…

Thailand passes record Bt1.9-trillion stimulus package

Thailand passes record Bt1.9-trillion stimulus package

Thailand passes record Bt1.9-trillion stimulus package The Thai Parliament approved three key emergency decrees providing Bt1.9-trillion aid package to businesses and people hit by the Covid-19 fallout Thailand’s parliament approved a 1.9 trillion baht (US$59.7 billion) stimulus package, the kingdom’s biggest-ever cash injection, as Southeast Asia’s second-biggest economy is expected to contract by 6 to…

Q3 rebound eyed from relief boost

Q3 rebound eyed from relief boost Thai GDP in the first and second quarters of 2020 faces a sharp year-on-year decline due to the global economic slowdown, widespread drought and coronavirus impact. But prospects are expected to improve in the third quarter onwards, boosted by the 1-trillion-baht plan for cash handouts to virus-hit people and…

New land tax forces land owners to evaluate their options

JSCCIB expects Thai economy to contract by 3-5% this year

JSCCIB expects Thai economy to contract by 3-5% this year BANGKOK(NNT) – Due to the impacts of COVID -19, the meeting of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) expects the Thai economy to contract 3-5 percent in 2020, which is less than the International Monetary Fund (IMF)’s prediction of between 6…

Business winners and losers, and the lumpy recovery

Business winners and losers, and the lumpy recovery

Business winners and losers, and the lumpy recovery As we slowly start to emerge from enforced lockdowns, how have things changed? There have been early ‘winners and losers’ but the profound changes to our lives will now start to morph into lingering economic hardships and unpredictable business outcomes. Different countries are going to restart their…