By Reuters – published by CNA and US News & World Report THE Thai industrial sentiment index dropped in April, dented by slowing domestic demand, a government wage hike plan and drought, the Federation of Thai Industries (FTI) said today (May 15). The FTI said its industrial sentiment index fell to 90.3 in April
Tag: economy
Global economy set to stay on a roll for the rest of the year: Reuters poll
By Reuters and published by CNA Bengaluru – The global economy is likely to carry its solid momentum for the rest of the year and into 2025, defying earlier expectations of a slowdown, according to a Reuters poll of economists who said stronger growth than forecast was more likely than weakness. That shift in
Read moreFlagship UN report pinpoints pivotal role of Travel & Tourism in Asia-Pacific economic recovery
ROBUST domestic demand and Travel & Tourism are the two major factors contributing to the post-Covid economic recovery of the Asia-Pacific region, according to the flagship annual report of the UN Economic and Social Commission for the Asia-Pacific. Released on April 4, the report notes that although GDP growth has resumed, multiple risks loom large,
Read moreWorld Bank cuts Thai GDP growth outlook to 2.8% this year
By Reuters and published by CNA THAILAND’S economic growth is expected at 2.8 percent this year before accelerating to 3.0 percent in 2025, the World Bank said today (Apr. 1). The growth outlook for 2024 and 2025 was reduced from 3.2 percent and 3.1 percent respectively, as forecast in December. Southeast Asia’s second-largest economy
Read moreKorat people tell PM to not give them false hope on cash handout
By Thai Newsroom Reporters and Amarin TV AFTER Prime Minister Srettha Thavisin reconfirmed today (Jan.9) that the Pheu Thai-led government’s 10,000-baht digital wallet project will be implemented from May as planned, people in Nakhon Ratchasima (Korat) said they were waiting for the cash handout and hope the government is not giving them false hope.
Read morePM says central bank rate hikes no good for economy
By Reuters and published by CNA PRIME MINISTER Minister Srettha Thavisin said the central bank’s rate increases have not been good at all for the economy, urging it to avoid moves that will adversely impact low-income families and small businesses. The government of Srettha, a real estate tycoon who took office in August, is
Read more105bn baht cash flow expected during New Year season
By Thai Newsroom Reporters ABOUT 105 BILLION BAHT in cash flow over the purchase of merchandise and services is expected across the country during the approaching New Year season, the University of Thai Chamber of Commerce’s (UTCC) Centre for Economic & Business Forecasting reported. According to today’s (Dec.21) UTCC economic forecast, an estimated 105.92
Read moreThai business group keeps 2023 growth forecast at 2.5%-3.0%
By Reuters and published by CNA THAILAND’S economy is expected to grow 2.5 percent to 3.0 percent this year, unchanged from a previous forecast, a leading joint business group said today (Dec 6). Tourism revenue will be lower than expected because Thailand is expected to receive only 28 million foreign arrivals this year, down
Read moreGDP forecast to rise 3.8% partly due to digital wallet campaign
By Thai Newsroom Reporters THAILAND’S GROSS DOMESTIC PRODUCT is forecast to rise 3.8% next year partly due to the Pheu Thai-initiated digital wallet campaign, the Bank of Thailand’s assistant governor Piti Disyatat said today (Nov.29). Without the much-heralded digital wallet project under which a sum of 500 billion baht will be spent up by
Read moreThai Q3 GDP grows 1.5% y/y, below forecast
THAILAND’S economy expanded 1.5 percent in the third quarter from a year earlier, official data showed today (Nov. 20), slower than expectations. On a quarterly basis, Southeast Asia’s second-largest economy grew a seasonally adjusted 0.8 percent in the July-September quarter, data from the National Economic and Social Development Council showed. Economists in a Reuters
Read moreMore than one way for govt to find money for digital wallet project: Prommin
By Thai Newsroom Reporters THERE IS MORE THAN ONE way for the Pheu Thai-led government to adequately finance their 10,000-baht digital wallet project, confirmed Prommin Lertsuridej, secretary-general to the prime minister, today (Oct.13). Prommin was apparently responding to doubts expressed publicly as to where the government could potentially find a sum of 560 billion
Read moreThai growth forecasts may need to be revised down – central bank chief
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 moreConcern 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
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