The Small and Medium Enterprises Development Bank has prepared 5 billion THB for loans to businesses affected by the recent political unrest and riots.
Deputy Finance Minister Pradit Phataraprasit announced that the SME Bank will help rally and riot affected entrepreneurs via its SME Power for the New Day project by issuing loans up to 1 million THB payable in six years without the need for collateral.
More than 2,000 riot affected business owners from Ratchaprasong, Pratunam, Siam Square, Silom, Center One Mall, and Victory Monument were invited to be briefed on the details of the project on Wednesday at Royal Paragon Hall, Siam Paragon.
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
S&P maintains Thailand’s credit rating at BBB+ with stable outlook
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.(more…)
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