Thailand Sees 8.5% GDP Contraction as Virus Ravages Economy

Thailand Sees 8.5% GDP Contraction as Virus Ravages Economy

Thailand Sees 8.5% GDP Contraction as Virus Ravages Economy (Bloomberg) — Thailand’s economy will likely contract 8.5% in 2020, worse than previously estimated and the biggest decline of any Asian nation this year. The Finance Ministry’s forecast, released in Bangkok on Thursday, compares with a previous projection of 2.4% growth. The central bank is estimating…

March inflation hits 51-month low at -0.54 percent

March inflation hits 51-month low at -0.54 percent

March inflation hits 51-month low at -0.54 percent March 2020 inflation rate receded to 0.54 percent, marking the first recession in 33 months and the lowest inflation rate in 51 months. The inflation rate of the Thai economy has been reduced sharply by lower oil prices and a lesser demand for goods due to the…

BOT predicts 5.3% contraction in Thai economy for 2020

BOT predicts 5.3% contraction in Thai economy for 2020

BOT predicts 5.3% contraction in Thai economy for 2020 Even the Thai economy, which was still maintaining respectable growth before January, is now spluttering under the siege of the Covid-19 virus. Now the Bank of Thailand has crunched some numbers and believes the Thai economy will sharply contract by 5.3% this year as the virus…

NESDB projects 1.5-2.5 percent growth in 2020

NESDB projects 1.5-2.5 percent growth in 2020

NESDB projects 1.5-2.5 percent growth in 2020 With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent. This year, the country’s economy is facing another big concern from the COVID-19 virus situation. With help from the government’s economic…

Thailand’s growth slips to a 5-year low at 2.4%

Thailand’s growth slips to a 5-year low at 2.4%

Thailand’s growth slips to a 5-year low at 2.4% Thailand has recorded its slowest economic growth in five years at 2.4% according to the National Economic and Social Development Council (NESDC) Thailand’s economy grew by 2.4 per cent in 2019, the National Economic and Social Development Council (NESDC) said on Monday February 17th. Thailand has…