Standard Chartered Bank forecasts 2 year economic recovery for Thailand Standard Chartered Bank says that it remains conservative on Thailand’s economic outlook, even though signs are emerging with the possibility of a further policy rate cut to below 0.25%. Their latest report forecasts a return to pre-Covid levels could take more than 2 years depending…
Thailand may lose 2 million jobs due to coronavirus: Planning agency BANGKOK (REUTERS) – Thailand may lose up to 2 million jobs this year, particularly in the tourist industry, as the novel coronavirus outbreak undermines economic activity, the state planning agency said on Thursday (May 28). About 8.4 million people are at risk of losing their jobs…
COVID-19 Economic Impact Could Reach $253 Billion in Southeast Asia, says ADB The cost of the coronavirus pandemic could reach as much as $8.8 trillion, or almost 10% of global gross domestic product, and between 158 million to 242 million jobs could be lost globally, with 70% of those in Asia and the Pacific, according to…
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…
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 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…
How bad is COVID-19’s impact on Asian developing economies? Developing countries may not have the same deep and liquid bond markets that rich countries have, and they often have to issue bonds in foreign currencies, especially if bond issuance exceeds the ability of local bond buyers to absorb the new debt. In its April World Economic…
Thai Cabinet approves Measures to Ease Economic Impact of COVID-19 The Thai government has approved Phase Two of a series of financial and fiscal relief measures to mitigate the negative economic impact on employers and employees in the sectors most affected by the outbreak of COVID-19 To mitigate the negative economic impact on employers and…
Opportunities for 2020 export growth in Thailand Despite the whirlwind of shutdowns, lockdowns and craziness descending on Thailand at the moment, the departments are still churning out numbers and trying to forecast the way ahead. They say that, due to the Thai baht weakening and massive government interventions around the world for both monetary and…
Thailand’s Poverty on the Rise Amid Slowing Economic Growth Between 2015 and 2018, the poverty rate in Thailand increased from 7.2 percent to 9.8 percent, and the absolute number of people living in poverty rose from 4.85 million to more than 6.7 million. Thailand has successfully reduced poverty over the past three decades from over…