How Thailand is becoming a progressive country in the 21st century
During the September 22 online opening of a seminar hosted by the Office of the National Economic and Social Development Council (NESDC), Prime Minister of Thailand Prayut Chan-o-cha revealed the Thai government's plan to in the 21st century into a progressive community with a sustainable economy.
The government will deploy 225 billion baht in financial resources for 51 million Thai. The cabinet approved stimulus measures on Wednesday, including an extension of two subsidy programs by a month for an amount of 85,5 billion baht.
Dark clouds for Thai economy
Thailand's economy is likely to grow less this year than previously predicted due to the third wave of the coronavirus and concerns about the UK variant of the virus that has emerged. Bank of Thailand director Chayawadee Chai-Anant said this Friday at a meeting of analysts.
Why do some people think Thailand is a poor country?
Thailand is not a poor country in the real sense of the word. It is one of the most developed countries in the region economically and although the standard of living is slightly lower than Malaysia's, development is much better than other neighboring countries.
Bank of Thailand: Measures to dampen Thai baht value
The Bank of Thailand will announce additional measures on December 9 to contain the baht. Director Chayawadee Chai-Anant attributes the currency's strength to both short-term and long-term factors. A too strong baht is unfavorable for the Thai economy, which is dependent on exports.
Gloomy outlook for salaries at companies in Thailand
The salary increase in Thailand this year will not exceed an average of 3,7%. It is the first time in 10 years that the average salary increase does not exceed 5%.
Bank of Thailand: 'Economic recovery will take a long time and more social inequality'
Bank of Thailand's forecasts for the Thai economy are gloomy. Governor Sethaput says it will take at least two years for the economy to recover. The main concern is the social inequality in Thailand.
Pailin Chuchottaworn, head of the economic recovery steering group, emphasizes once again that the government must reopen the country to prevent the economy from collapsing. The lockdown has been eased six times, but that will not improve the situation unless the country reopens, but with precautions.
The Thai government will extend the state of emergency until October and the special tourist visa will be approved, so that tourists can return to Thailand from October 1.
Prime Minister Prayut: 'Thailand must build a new economy'
Prime Minister Prayut says Thailand needs to build a new economy after relying heavily on exports and tourism, which has now been hit by the Covid-19 pandemic. According to Prayut, this can be done by investing in the infrastructure.
Economic contraction in Thailand causes a recession
According to Governor Veerathai Santiprabhob of the Bank of Thailand (BoT), the Thai economy is said to be past its lowest point, which is doubted by many. Many hotels and restaurants have not reopened at all, as it is cheaper to remain closed than to operate in a city devoid of foreign tourists. It will take at least another two years to recover from the COVID-19 crisis.
Thailand will no longer allow tourists for the time being and that may take a long time. That costs the country money. I read in the Bangkok Post that rice exports are also dramatically low. Domestic tourism is also not getting going and the Thai are keeping their purse strings so consumer confidence is low.
Starting up the economy in Thailand
Now that phase 3 of the Covid-19 measure is entering, which means a further relaxation of the corona rules, the government wants to encourage the business community with an amount of 200 billion baht per month to restart the "business".
Thailand's Industrial Confidence Index stood at 75,9 in April. That is the lowest point in 11 years and a significant decrease in all sectors compared to the 88 point score in the previous month.
Report from the Dutch embassy on economic consequences during the corona crisis in Thailand
You are probably aware that it has been “all hands on deck” at the Dutch embassy in Bangkok in the past period. In shifts, man and power worked on all kinds of problems that the coronavirus crisis entailed for the Dutch, such as the repatriation flights of Dutch people who wanted to return to their homeland.
Private sector wants rapid easing of lockdown
The private sector is calling on the Thai government to continue easing lockdown measures and allow other businesses to reopen, especially those in the tourism sector and supply chains, to limit rising unemployment.
Thailand's economic performance in the first quarter was not good and the current quarter will be much worse as Thailand takes the full impact of the pandemic, Deputy Prime Minister Somkid Jatusripitak said.