Employment key to reopening economy

Employment key to reopening economy Finance Minister Arkhom Termpittayapaisith has instructed ministry departments to devise measures to tackle unemployment and propel the economic recovery in preparation for a full reopening of Thailand’s economy. “Businesses without money cannot hire people, therefore one of the measures to tackle unemployment is to maintain existing employment. The government can…

PTT moves closer to decision on Ohio petrochemical plant with storage deal

Thailand unveils new cabinet with economic czar from PTT group

Thailand unveils new cabinet with economic czar from PTT group Appointments show Prayuth’s priority is to restructure COVID-hit state entities BANGKOK — Prime Minister Prayuth Chan-ocha’s government on Thursday announced it had handed key positions in the energy and finance departments to former executives in a state-owned company and a commercial bank, in a reshuffle…

Somkid’s departure sees baht drop further

Somkid’s departure sees baht drop further

Somkid’s departure sees baht drop further The baht’s current shine as the ‘safe’ current in Asia has lost its lustre. After riding high as Asia’s best performing currency last year, the baht has wiped out all of its 8% gains this year during the Covid-19 crisis, and yesterday’s announcement of the resignations of Deputy PM Somkid Jatusripitak…

ASP: 15% Q2 contraction possible

ASP: 15% Q2 contraction possible

ASP: 15% Q2 contraction possible Thailand’s economy could contract by 15% year-on-year in the second quarter from lockdown measures, with rising contagion risk affecting economic activities on the external front, says Asia Plus Securities (ASP). “Second-quarter GDP is likely contract for both quarter-on-quarter and year-on-year figures because of the country’s lockdown measures against the pandemic,”…

Thai GDP drops nearly 2% in first quarter

Thai GDP drops nearly 2% in first quarter

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…

Thailand’s export to contract by 7% in 2020

Thailand’s export to contract by 7% in 2020

Thailand’s export to contract by 7% in 2020 Thailand’s exports could shrink as much as 7% in 2020 showing its worst performance in a decade, or 3.7% if the Covid-19 crisis is contained before September. The Bank of Thailand and the Center for International Trade Studies at the University of the Thai Chamber of Commerce…