Financial experts at the Bank of Ayudhya said that even though the Thai currency this morning has slightly appreciated, the Euro zone debt crisis is posing a major concern for investors, weakening the confidence of Thai stocks and regional stocks.
The Thai currency is speculated to weaken today after opening at 32.54-56 THB/USD this morning. The opening value of the Thai currency is similar to the closing value on Friday evening last week at 32.55-56 THB/USD. Following the Euro zone crisis, Spain recently lost its AAA Fitch Ratings credit grade.
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…)
World Bank cuts Thailand’s GDP growth outlook to 1% in 2021
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