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
Tag: economy
Government 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,
Read moreKrabi shop puts up sign: ‘discounts until Prayut resigns’
BEING widely shared on the Thai social media today (Nov. 19) are photos of a garment and souvenir shop in Krabi province which put up a large sign at the entrance that says, “Mocking discount against Prime Minister! Discount! Until Prayut Chan-o-cha resign!” Sanook.com reported. The post elicited a lot of comments and was widely
Read morePridi: Government not broke, situation manageable
NEW Finance Minister Pridi Daochai said today (August 17) after delivering his policy to ministry officials that the government is not broke and additional economic recovery measures will definitely be implemented, INN News said. The new minister pointed out that the entire world economy is in a decline as a result of the Covid-19 pandemic
Read moreUK economy in record slump due to coronavirus
By Elliot Smith, CNBC THE UK posted the biggest monthly fall in GDP (gross domestic product) on record in April, according to the Office for National Statistics. GDP fell by 20.4% compared to the previous month, a sharper contraction than the 18.4% expected by analysts polled by Reuters. This represented a 24.5% decline from April
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