Economy will grow 1.5-3.5% this year: JSCCID The Joint Standing Committee on Commerce, Industry and Banking (JSCCID) estimated on Wednesday that the Thai economy would grow 1.5-3.5 per cent this year. By THE NATIONThe Joint Standing Committee on Commerce, Industry and Banking (JSCCID) estimated on Wednesday that the Thai economy would grow 1.5-3.5 per cent this…
Thai Economy Struggles Amid COVID Second Wave BANGKOK – Thailand had hoped the new year would bring relief to its battered economy. But a second wave of the coronavirus has sunk the kingdom deeper into trouble, leaving streets scarred with abandoned businesses and millions scrambling for an income. The kingdom, one of Asia’s most unequal…
Thailand’s slow economic recovery Author: Juthathip Jongwanich, Thammasat University Thailand’s economic performance in the third quarter of 2020 showed promising signs of recovery amid the ongoing COVID-19 pandemic. The contraction in GDP fell to 6.4 per cent year-on-year, down from 12 per cent in the second quarter. Signs of recovery in key industries such as electronics…
Thai interest rate unchanged but central bank cuts GDP outlook Bank of Thailand trims 2021 growth forecast to 3.2% due to sluggish tourism BANGKOK (Reuters) — Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday but downgraded its 2021 economic outlook as the tourism-reliant country deals with a fresh…
Domestic headwinds hinder recovery Thailand’s economy is projected to recover slowly because of downside risks from domestic headwinds despite upbeat signals about Covid-19 vaccine development, says KKP Research. Although the economy gained traction in the third quarter, the economic recovery outlook remains fragile and uneven for different sectors and throughout Thailand, according to a report…
S&P keeps BBB+ Thai credit rating The Finance Ministry is confident the Thai economy will steadily recover after Standard & Poor (S&P) Global Ratings kept the kingdom’s sovereign credit rating at BBB+. Finance Minister Arkhom Termpittayapaisith said S&P not only maintained Thailand’s sovereign credit rating but also rated its economy as having a Stable Outlook.…
Thailand’s GDP contraction moderates to 6.4% in Q3 Worst days of COVID-19 are already past, economic planning agency insists BANGKOK — Thailand’s economic contraction slowed in the third quarter as exports and domestic tourism started picking up from the pandemic-induced slump, the kingdom’s economic planning agency said Monday. Gross domestic product shrank 6.4% on the…
Thai economy passed lowest point, to contract less than expected – officials BANGKOK (Reuters) – Thailand’s economy has passed its lowest point and is expected to contract less than previously expected this year due to a recovery in consumption, senior officials said. “We can say that our lowest point was in the second quarter,” Danucha…
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…
Huawei: ICT to form 30% of GDP by 2030 The ICT sector is expected to contribute 30% to Thai GDP by 2030, up from 10% at present, thanks to 5G ecosystem development led by network deployment and the government’s digital economy policy, says Chinese tech giant Huawei. The company believes that Thailand could become a…