Thai private sector expects better economic recovery in Q4 The JSCCIB now expects the Thai economy in Q4, 2020 to continue recovering, with the annual performance this year expected to shrink to within the margin of -7 to -9 percent. BANGKOK (NNT) – The Thai economy is receiving a boost from government aid measures and…
Inequality likely after economic recovery – Bank of Thailand governor It’s expected to take at least 2 years for Thailand’s economy to recover, but once it does, inequality is likely to become a top concern, according to the Bank of Thailand governor Sethaput Suthiwart-Narueput. “It is expected to take at least two years before the…
IMF inches up Thailand’s GDP forecast from -7.7% to -7.1% The International Monetary Fund’s (IMF) has revised up Thailand’s economic outlook to a 7.1 percent contraction, from a 7.7 percent decline, due to the government’s measures to support the business sector. The International Monetary Fund (IMF) has adjusted Thailand’s GDP growth forecast, from -7.7% to…
Huawei: ICT to form 30% of GDP by 2030 The ICT sector is expected to contribute 30% to Thai GDP by 2030, up from 10% at present, thanks to 5G ecosystem development led by network deployment and the government’s digital economy policy, says Chinese tech giant Huawei. The company believes that Thailand could become a…
Thailand’s GDP to shrink from 9.4 to 11.4 percent The Thai Chamber of Commerce (UTCC) has predicted that the Thai GDP this year will shrink between 9.4 to 11.4 percent due to the COVID-19 pandemic. The Center for Economic and Business Forecasting (CEBF) of the University of the Thai Chamber of Commerce (UTCC) has predicted…
The Impact of COVID-19 on Thailand’s economy Thailand’s economy is expected to be impacted severely by the COVID-19 pandemic, shrinking by at least 5 percent in 2020 and taking more than two years to return to pre-COVID-19 GDP output levels Thailand has been successful in stemming the tide of COVID-19 infections over the last three…
Thai GDP drops nearly 2% in first quarter The Thai economy’s slumped by nearly 2% year-on-year during Q1, 2020. In it’s full-year forecast, the National Economic and Social Development Council forecasts that the Thai GDP would drop 5-6% for the year. As a comparison, the economy tanked 7.6% during the 1997 financial crisis. The Gross Domestic Product…
Q3 rebound eyed from relief boost Thai GDP in the first and second quarters of 2020 faces a sharp year-on-year decline due to the global economic slowdown, widespread drought and coronavirus impact. But prospects are expected to improve in the third quarter onwards, boosted by the 1-trillion-baht plan for cash handouts to virus-hit people and…