UPDATE 1-Thai finmin sees economy up 4% next yr, to focus on revival * Economy to grow 4% next year after -6% seen this year * Fiscal policy to focus on supporting growth * Public debt level still manageable * Central bank should take more action on baht rise (Adds detail, baht) BANGKOK, Nov 23…
Economy shrinks 6.4% in busy Q3 Thailand’s GDP contracted by 6.4% year-on-year in the third quarter, with full-year economic contraction projected to arrive at 6%, says the National Economic and Social Development Council (NESDC). The economy was previously anticipated to contract by 7.5% this year. The main reason supporting a lower full-year economic contraction is…
Economy shrinks 6.4% y/y in Q3, less than expected [BANGKOK] Thailand’s economy improved in the third quarter after the government eased restrictions on movement and implemented a series of stimulus measures while getting the country’s Covid-19 outbreak largely under control. Gross domestic product shrank 6.4 per cent from a year ago, the National Economic and…
Inequality likely after economic recovery – Bank of Thailand governor It’s expected to take at least 2 years for Thailand’s economy to recover, but once it does, inequality is likely to become a top concern, according to the Bank of Thailand governor Sethaput Suthiwart-Narueput. “It is expected to take at least two years before the…
Thai Airways to launch one-off flight over sacred Buddhist sites Thai Airways has announced a special flight on November 30 that will give passengers the opportunity to chant Buddhist mantras while flying over 99 sacred sites in the Kingdom. Wiwat Piyawiroj, executive vice-president at the struggling national carrier, says passengers will fly over Bangkok and…
CECI network: shaping Thai construction industry With Circular Economy Pushing Green & Clean construction for better environment While the globe is facing crises from multiple directions, including a pandemic, recession, and environmental issues, the Thai construction industry is regarded as a high natural resources consumption business, producing waste that is hard to manage. As such,…
Private sector worried over economic impact of political turmoil The private sector has expressed concern that escalating anti-establishment protests could impact the economy, the Thai Chamber of Commerce said on Wednesday. Foreign investors were eager to invest in Thailand but might change their mind if the political unrest remains unresolved, said the chamber’s chairman Kalin…
Employment key to reopening economy Finance Minister Arkhom Termpittayapaisith has instructed ministry departments to devise measures to tackle unemployment and propel the economic recovery in preparation for a full reopening of Thailand’s economy. “Businesses without money cannot hire people, therefore one of the measures to tackle unemployment is to maintain existing employment. The government can…
UPDATE 2-Thai c.bank avoids further stimulus, upgrades 2020 GDP forecast * Committee votes unanimously to hold rates at record low of 0.50% * 2020 GDP forecast raised to -7.8% versus -8.1% in June * 2020 exports to fall 8.2% versus -10.3% seen earlier * Further rate cuts unlikely, economists say (Adds details, analysts’ comments) BANGKOK,…
Confidence index in August hits highest level in a year, as mood on economy improves The Thai Chamber of Commerce Confidence Index for August saw its first rise in 12 month, moving up to 32.6, from 31.8 in July, said Thanawat Polvichai, the director of the University of the Thai Chamber of Commerce’s Centre for…