Thailand Plans $7.2 Billion Stimulus to Rescue Virus-Hit Economy (Bloomberg) — Thailand is planning to spend billions of dollars in providing financial relief to low-income groups to cope with the economic hit from the biggest Covid-19 outbreak sweeping the nation since the pandemic began. The cabinet gave in-principle approval on Wednesday for fiscal stimulus measures…
Thailand Holds Rates, Warns on Growth Amid Its Worst Covid Wave (Bloomberg) — Thailand’s central bank kept its benchmark interest rate unchanged for an eighth straight meeting, warning its forecast for an economic recovery was threatened by the country’s biggest virus wave since the pandemic began. The Bank of Thailand held the policy rate Wednesday…
Thailand Accelerates Registration of GI Products in 4 Countries BANGKOK (NNT) – Thailand is speeding up registration of geographical indication (GI) products in 4 countries, to prevent foreign vendors from claiming that they make the products and to helpincrease Thai exports during the pandemic. Department of Intellectual Property deputy director-general Prayoth Benyasut said applications for…
Myanmar Imposes Ban on 5 Thai Drinking Products BANGKOK (NNT) – Myanmar has imposed a ban on imports of five Thai drinking products sent by land from Thailand, but will allow imports of these products by sea. Starting from Saturday, the ban applies to soft drinks, fruit juices, ready-to-drink coffee, condensed sweetened milk and fresh milk…
Jabs, rising exports may boost GDP A new state-private vaccination plan and good export prospects may help Thailand secure 1.5-3% GDP growth this year despite economic uncertainties caused by the third wave of Covid-19, says the Thai Chamber of Commerce. Sanan Angubolkul, the chamber chairman, remains optimistic about the Thai economy, believing business activities in…
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…
Rating agency’s confidence in Thailand pleases PM Prime Minister Prayut Chan-o-cha has welcomed confirmation by the Japan Credit Rating Agency (JCR) that the Thai economy’s outlook is stable despite the economic impact of Covid-19. The JCR announced on Monday that Thailand had been rated as having a stable outlook and said that reflected the country’s…
Thailand Rethinks Vaccine Plan as New Wave Hits Economy, Tourism (Bloomberg) — Thailand is reworking its vaccine strategy as a month-long soft lockdown to contain its worst wave of Covid-19 infections deepens an economic crisis and risks plans for reopening the crucial tourism industry. Prime Minister Prayuth Chan-Ocha will meet Wednesday with industry groups, including…
Thailand to likely slash GDP forecasts after new COVID-19 wave Thailand’s central bank will likely slash its economic growth outlook for both this and next year as the country struggles with a rapidly spreading third wave of COVID-19 infections. The new outbreak, driven in part by the highly transmissible B.1.1.7 variant, has caused over 26,000 cases and…
Thai village looks to get economy jumping with cricket farming BANGKOK — A unique project to breed crickets for human consumption is underway in a small village in northeastern Thailand, part of an effort to boost income in the country’s poorest region. Interest in insects as a sustainable source of protein is growing as the…