By Reuters and published by CNA THAILAND’S economy continues to recover, helped by tourism and consumption, though the growth forecast may need to be revised down with exports weak this year, the central bank chief said today (Aug. 9). Inflation was falling faster than expected and interest rate decisions would focus on the economic
Read moreTag: economy
Concern over impact of election lingering till August
THE UPCOMING election is affecting investment by the private sector which will slow down until August as it is then that it is expected a new government will be in place, Matichon newspaper quoted the head of Federation of Thai Industries Mr. Kriangkrai Thiennukul as saying this evening (Mar. 1). This gap that has
Read moreThai economy to grow 3.8% this year, inflation to ebb: Finance Minister
By Reuters and published by CNA THAILAND’S economy is expected to grow 3.8 percent this year, helped by a rebound in the vital tourism sector, while inflation should cool to its target range, the Finance Minister said on Saturday (Feb. 25). Domestic spending has increased and the government will accelerate large project investment to
Read moreCabinet approves additional holiday in May to spur economy
By TV Channel 7 and Reuters – published by CNA THE cabinet today (Jan. 10) approved Friday May 5, 2023 as an extra public holiday to allow for a four-day long weekend from Thursday May 4, 2023, which is Coronation day, TV Channel 7 said this afternoon. This step was taken to stimulate the
Read moreCentral bank raises key rate, trims growth outlook on global slowdown
By Reuters and published by CNA THAILAND’S central bank raised its key interest rate by 25 basis points for a third straight meeting on Wednesday, as it tries to contain above-target inflation while supporting an economic recovery facing increasing global headwinds. The Bank of Thailand’s (BOT) monetary policy committee voted unanimously to raise the one-day
Read moreThai central bank to deliver third straight 25bps hike on Nov. 30: Reuters poll
By Reuters and published by CNA THE Bank of Thailand will raise interest rates by a modest quarter-point on Wednesday for a third straight meeting amid fragile tourism-reliant growth and signs inflation has started to ease, a Reuters poll of economists found. The widely-expected move, which would take the benchmark rate to only 1.25
Read moreNagas approved as Thailand’s mythical emblem
THE CABINET today (Nov. 1) approved nagas, a race of semidivine serpent creatures in Hindu and Buddhist mythology, as the country’s mythical emblem with this being part of soft power to use Thai culture to drive the economy and increase national income, Matichon newspaper said. Ms. Ratchada Thanadirek, deputy spokesperson for the Prime Minister’s Office,
Read morePridiyathorn could be thorn in Prayut’s side
By Thai Newsroom Reporters FORMER DEPUTY PRIME minister Pridiyathorn Devakula could probably be a thorn in the side of Prime Minister Prayut Chan-o-cha if he was named head of the current government’s economic cabinet, partisan sources said over the weekend. Pridiyathorn who performed as deputy premier in charge of financial and treasury affairs under
Read moreEx-minister: Whole economic structure needs adjusting due to rising food prices
FORMER commerce minister Sontirat Sontijirawong said in a Facebook post today (Jan. 15) that with prices of daily necessities having jumped amid low wages it is now necessary to adjust the whole economic structure, Matichon newspaper said. He warned that the entire economy could collapse and if this happened it would take a long
Read moreThai central bank chief says economic engines not as strong as before
By Reuters Staff, published by Channel NewsAsia THAILAND’S economic engines may not be as strong as before and the country’s important tourism sector may take longer to normalise, its central bank governor said today (Nov. 18). Factors that will be key to future growth are the digital economy and sustainability, Bank of Thailand Governor
Read moreMyanmar’s economic crisis fuels underground currency trading
By Reuters Staff and published by Channel NewsAsia AS MYANMAR’S economic slump deepens after February’s military coup and parts of its financial system freeze up, many in the strife-torn country are turning to online groups to bypass official channels to trade currencies. The fragility of the financial system was further exposed this week when the
Read moreGovernment moves to allow ‘high potential’ foreigners buy land
THE CABINET last Tuesday (Sept. 14) approved measures to attract “high potential” foreigners to the country by offering them various benefits among which is the right to buy land, Thai Rath newspaper said today (Sept. 18). Ms. Ratchada Thanadirek, deputy spokesperson for the Prime Minister’s Office, said these measures are aimed boosting the Thai economy
Read moreKiatnakin Bank warns of economic slump as lockdown will likely drag on
KIATNAKIN Bank’s latest analysis projects that the current coronavirus lockdown could last at least three months leading to another year of economic contraction with GDP for 2021 likely to slide from projected 1.5% to only 0.5%, Amarin TV said today (July 27). As the lockdown will likely stretch for three months or more before the
Read moreWorld Bank lowers Thailand’s economic outlook to 2.2%
THE World Bank has lowered its outlook on Thailand’s economic growth this year to 2.2%, while the country’s export sector is expected to grow at 7.3%, NNT said yesterday (July 15). In the Thailand Economic Monitor ‘The Road to Recovery’ released yesterday, the World Bank adjusted its outlook on Thailand’s economic growth this year to
Read moreBank of Thailand keeps key interest rate at record low
The Bank of Thailand (BoT) has kept its key interest rate unchanged, keeping it at a record low of 0.5% yesterday (May 5), as the economy struggles with a third wave of Covid-19, NNT said today. The central bank said in a statement that economic growth is likely to slow sharply due to the third
Read moreMarch inflation shrinks after gov’t financial aid
SEVERAL cost of living reduction measures by the government and lower fresh food pricing have resulted in a slight decrease in Thailand’s inflation rate in March, according to a report from the Ministry of Commerce. The Ministry of Commerce reported a 0.08% reduction in the inflation rate in March, which is the smallest decline recorded
Read moreMyanmar protesters hold more rallies, World Bank warns of slump
By Reuters Staff, published by MSN News MYANMAR anti-coup protesters staged more rallies today (March 26) after the military reportedly shot dead nine people a day earlier and as the World Bank warned the country’s economy could slump 10% this year due to the turmoil. In a bid to increase pressure on the junta
Read moreFinance Minister says expected 2.8% growth not satisfactory
By Reuters Staff, published by Todayonline.com THAILAND’S economy may grow 2.8% this year but is still not satisfactory, but fiscal measures will continue to support economic recovery as tourism remains weak, the country’s finance minister said today (March 3) Southeast Asia’s second-largest economy, which is heavily reliant on tourism and exports, contracted 6.1% last year,
Read moreIMF sees ‘exceptional uncertainty’
WASHINGTON (Reuters) – The International Monetary Fund on Jan 26 raised its forecast for global economic growth in 2021 and said the coronavirus-triggered downturn last year would be nearly a full percentage point less severe than expected. It said multiple vaccine approvals and the launch of vaccinations in some countries in December had boosted hopes
Read morePM confident economy is recovering, welcomes Bloomberg boost
PRIME Minister Prayut Chan-o-cha is pleased that Thailand topped a Bloomberg study of 17 developing markets gauging their outlook for 2021 pointing out that this is a result of various economic stimulus measures and will boost confidence in trade and investment in the new year, Siam Rath newspaper reported today (Dec. 21). The Bloomberg report,
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