Thai central bank announces series of measures to contain baht rise BANGKOK (CNA) – Thailand’s central bank unveiled yesterday new measures aimed at balancing capital flows after warning a rapid jump in the baht risked undermining the economy amid renewed inflows into emerging markets. The Bank of Thailand will allow Thais to freely deposit and…
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.…
Thai Economy Sees Slower Contraction With Stimulus Spending (Bloomberg) — Thailand’s economy improved in the third quarter after the government eased restrictions on movement and implemented a series of stimulus measures while getting the country’s Covid-19 outbreak largely under control. Gross domestic product shrank 6.4% from a year ago, the National Economic and Social Development…
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…
Finance Ministry mulls stimulus packages to boost property sector, consumption The new permanent secretary at the Finance Ministry, Krisada Chinavicharana, says officials are considering additional stimulus measures to support Thailand’s property sector and to further boost consumer spending. Krisada says he plans to meet with senior officials to debate more ways to get the economy…
Thailand’s Economy and the Pandemic: Facing Delays and Difficult Choices Thailand is one of the few countries that can claim to have restricted the internal spread of COVID-19 so far. The country has yet to reach 3500 total cases, with limited deaths, currently at 58. A timely border closure supported by initiatives that were broadly embraced by…
Thai Economy May Contract for Second Year With Tourism in Limbo (Bloomberg) — Thailand’s economy could contract for a second straight year in 2021 if it takes a cautious approach to reopening its tourism industry, according to a central bank official. If Thailand remains closed to foreign tourists until a vaccine is widely available –…
Medical cannabis industry gears up to drive Thai economy Medical cannabis will be raised to the status of an economic crop in Thailand and exported across the world, according to a government subcommittee studying the draft law on cultivation of cannabis and Thai hemp. The subcommittee said Thai farmers should also have access to both…
Border trade activity down 9.7% in first 5 months Thailand’s cross-border trade fell by 9.7% year-on-year in the first five months of 2020 as the coronavirus ravaged the global economy and led neighbouring countries to close nearly all border checkpoints. The Foreign Trade Department on Thursday said the country’s overall cross-border trade, including transit trade, totalled…
Phase 3 easing generated 200 billion baht into Thai economy Phase 3 of Covid-19 restriction easing, which began June 1, has generated 200 billion baht of additional cash flow into the economy. With many other establishments returning to business as usual tomorrow, the Thai Chamber of Commerce has launched a forum for the brainstorming of ideas on…