Time to rethink future growth channels

Time to rethink future growth channels

Time to rethink future growth channels Double whammy of Covid-19 impact and transition into an aged society requires a proactive investment policy and an overhaul of govt bureaucracy The Thai economy faces a spate of challenges with the latest outbreak compounding the difficulty of recovery efforts. Kla Party leader and former finance minister Korn Chatikavanij…

BoT Will Launch Retail CBDC to Secure Financial Services

BoT Will Launch Retail CBDC to Secure Financial Services

BoT Will Launch Retail CBDC to Secure Financial Services BANGKOK (NNT) – The Bank of Thailand (BoT) will launch the Retail Central Bank Digital Currency (CBDC) by the second quarter next year to provide Thais with access to more convenient and secure financial services. BoT assistant governor Vachira Arromdee said the development of a Retail CBDC…

BoT urged to keep credit card measure

BoT urged to keep credit card measure The credit card club of the Thai Bankers’ Association has proposed the central bank maintain a minimum debt payment measure for credit cards to help alleviate the financial burden on consumers during the country’s uneven economic recovery. Atis Ruchirawat, managing director of General Card Services Ltd, which runs…

50:50 campaign reaches 100 billion baht transaction milestone

50:50 campaign reaches 100 billion baht transaction milestone

50:50 campaign reaches 100 billion baht transaction milestone BANGKOK (NNT) – The total value of transactions in the government’s 50:50 co-pay campaign has reached 100 million baht. Campaign participants now have until 31 March to use up all their remaining allowance. The Ministry of Finance revealed the government’s 50:50 co-pay campaign for general purchases has…

Thai central bank revises down 2021 growth to 3.0%

Thai central bank revises down 2021 growth to 3.0% Bank maintains policy rate but provides new $11 billion aid to business Bangkok — The Bank of Thailand revised down its 2021 growth forecast, as the resurgence of COVID-19 in Southeast Asia’s second largest economy over the last few months had led to the closure of…

Thai Finance Ministry expects 4 per cent GDP growth in 2021

Thai Finance Ministry expects 4 per cent GDP growth in 2021 BANGKOK, Nov 26 — The Finance Ministry of Thailand plans to expand the government’s co-payment economic stimulus scheme while foreseeing a 4per cent economic growth next year, Thai news agency (TNA) reported. Finance Minister Arkhom Termpittayapaisith said that the Thai economy was bottoming out…

FPO upgrades 2020 GDP decline to 7.7%

FPO upgrades 2020 GDP decline to 7.7%

FPO upgrades 2020 GDP decline to 7.7% GDP contraction is projected to be less severe than previously estimated based on a recovery among Thailand’s Asian trading partners, without factoring in domestic political turbulence, says the Fiscal Policy Office (FPO). The FPO’s latest economic forecast upgrades GDP contraction this year to 7.7% from a 8.2% decline…

AMLO is investigating four Thai banks’ alleged role in suspicious transactions

AMLO is investigating four Thai banks’ alleged role in suspicious transactions Thailand’s Anti-Money Laundering Office (AMLO) is verifying a report, by the International Consortium of Investigative Journalists (ICIJ), stating that four Thai banks have been involved in suspicious financial transactions over nearly two decades. The ICIJ’s report refers to files leaked from the Financial Crimes…