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…
Thai finance ministry slashes 2020 GDP outlook to 8.5% contraction BANGKOK (Reuters) – Thailand’s finance ministry on Thursday slashed its 2020 economic forecast to a record 8.5% contraction in gross domestic product from the 2.8% growth it projected in January, due to the impacts of the coronavirus pandemic. The ministry also cut its 2020 estimate…
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…
IMF sees Thailand’s growth down 6.7 percent in 2020 The impact of the coronavirus on the Asia Pacific region will be severe and unprecedented says IMF, and Thailand could stand as the worst performer with a 6.7% GDP drop. Covid-19 crisis could be worse than the Global Financial Crisis, and Asia is not immune, says…
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 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…
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…
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 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…
Productivity is Key to Thailand’s Growth and Prosperity, says World Bank The Thai economy is projected to pick up moderately to 2.7 percent in 2020 as private consumption recovers and investment picks up due to the implementation of large public infrastructure projects. Thailand’s growth slowed to an estimated 2.5 percent in 2019 from 4.1 percent…