Banks see growth in fees, service income Signs of recovery in the Thai economy and stock market in the first quarter raised equity and mutual fund investment, as well as fee-based income for Thailand’s banking sector. Ten SET-listed commercial banks reported combined fees and service income of 43.4 billion baht in the first quarter this…
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…
Thai economic recovery trails others in Asia – ADB Developing Asia’s economy will rebound faster this year than previously estimated, as nations tread diverging recovery paths, according to the Asian Development Bank. Southeast Asia’s forecast was lowered to 4.4% growth this year amid reduced projections for Malaysia, the Philippines and Thailand. The region’s gross domestic…
Third wave of COVID-19 has cost the Thai economy 200-300 billion baht BANGKOK (NNT) – Analysts are encouraging the state to step up remedies for the COVID-19 situation, after assessing that the third wave of infections has cost the economy 200-300 billion baht and could cap growth this year at 1.6 percent. President of the…
PM positive Thai economy will grow despite new COVID-19 wave BANGKOK (NNT) – The Prime Minister is optimistic that the Thai economy will continue to grow this year, despite being hit by a new wave of COVID-19, currently being controlled. The Government Spokesman Anucha Burapachaisri has asked members of the public to cooperate with the…
Thai economy will see worst-case scenario from delay of reopening to foreign tourism The Bank of Thailand (BoT) has advised the government to prepare additional financial and fiscal aid packages to protect against uncertainties under the worst-case scenario. The bank projected the Thai economy would recover slowly and unequally in the short term. Reopening the…
BoT recommends additional aid measures Thai economic uncertainty looms large amid a fragile recovery, says the Bank of Thailand, and it advised the government to prepare additional financial and fiscal aid packages to cushion against a worst-case scenario. The central bank on Wednesday published the edited minutes of the Monetary Policy Committee’s meeting on March 24,…
World Bank supports continued government economic stimulus BANGKOK (NNT) – The World Bank has encouraged the Thai government to continue its economic stimulus measures with a focus on businesses directly impacted by the COVID-19 pandemic such as those in the tourism sector. Senior country economist of the World Bank for Thailand Kiatipong Ariyapruchya has noted…
Thailand develops marijuana for health industry leading to avenues for tourism The Ministry of Public Health has brought together 29 pharmaceutical and supplement producers with marijuana growing community enterprises in a major step to develop the plant into a new segment of the health industry, leading to new medicinal products and avenues for tourism. Minister of Public Health…
Thai economy faces 10% permanent loss if Covid recovery delayed: S&P Global Ratings Southeast Asia now risks a delayed economic recovery that will steepen permanent economic losses, says a new report by S&P Global Ratings. Thailand and other major Asean markets are living with the effects of new Covid-19 waves that appear to have peaked…