Impacts of global economy and COVID-19 on Thailand BANGKOK (NNT) – During a censure debate, targeting the Prime Minister and Defense Minister, Gen. Prayut Chan-o-cha, the opposition Pheu Thai Party MP for Maha Sarakham, Suthin Khlangsaeng, said that the country’s high public debt is attributable to the government’s failure to address economic problems. However, several…
Thai central bank leaves rate at record low, warns of economic risks Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday, February 3, preserving its limited policy ammunition, but warned of risks as the country deals with a fresh wave of coronavirus infections. Southeast Asia’s second largest economy continues to recover…
Myanmar coup to have “minimal” impact on Thai economy, government says The Myanmar coup was expected to have minimal impact on the Thai economy, the government said Wednesday, but the investments in the Dawei Special Economic Zone will have to be put on hold for now. The coup “should not be a problem” as…
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…
Making palm oil more sustainable Helping oil palm smallholders adopt more responsible practices is key to reducing the industry’s environmental impact. Palm oil has long been a major economic backbone of Southeast Asian economies, notably Indonesia, Malaysia and Thailand. But the undeniable environmental impact of extensive deforestation, haze and forest fires caused by oil palm…
Thailand’s economic outlook for 2021 The Thai economy will grow next year after contracting by almost 10% this year. Next year, the Thai economy is expected to expand 3 to 4% from this year. It will not be until the end of 2022 before the Thai economy returns to its pre-Covid level of 2019. However,…
Economy to lose billions of baht from Covid-19 lockdown – Kasikorn Research Centre The economy will lose billions of baht following the Covid-19 outbreak in Samut Sakhon, just southwest of Bangkok, according to Kasikorn Research Centre. Shutting down the seafood industry in the province, calling off New Year parties in Bangkok and trips being cancelled…
Thai economy to grow 3.8% in 2021 says EIC The Economic Intelligence Center (EIC) of Siam Commercial Bank (SCB) has forecast that the Thai economy will grow 3.8 percent next year. BANGKOK (NNT) – With the government’s stimulus measures being the main driver of economic recovery, the Economic Intelligence Center (EIC) of Siam Commercial Bank…
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…
Modest rebound ahead, with 3.9% growth in 2021 Thai economy showing faint signs of life but revival of tourism will remain the key. Thailand’s economy is set for a modest recovery over the coming years from its recession in 2020. The economy has struggled amid the Covid-19 pandemic as its high reliance on external demand…