Economics

Thai economy to grow 3.5-4.5% in 2011

The Thai economy is set to expand 7 per cent this year and likely to continue growing by 3.5-4.5 per cent next year, according to a top Bangkok commercial banker.

Published

10 years ago

November 24, 2010

Akanksha Singh

The Thai economy is set to expand 7 per cent this year and likely to continue growing by 3.5-4.5 per cent next year, according to a top Bangkok commercial banker.

Kasikornbank Executive Vice President Vasin Vanichvoranun said that state and private investment is expected to expand further while exports are forecast to grow slowly at 6-7 per cent compared with a 27 per cent surge this year.

Key risk factors to the economic growth next year include higher oil prices, which could fuel inflationary pressure, baht volatilities, impacts of inundations, and political uncertainties.

Industries expected to grow further include agriculture and foods boosted by higher product prices, vehicles and parts set to expand in terms of local sales and exports, and construction and building materials boosted by an implementation of state-supported investment projects.

Other industries with growth potential are machinery and equipment, alternative energy, industrial estate, and tourism.

The country’s gross domestic product in the first nine months of this year rose 9.3 per cent when compared to the same period of last year, thanks to continuous expansion in exports, investment and consumption.The NESDB expected the Thai economy in the fourth quarter to drop 0.3 per cent due to the heavy flooding in many areas of the country, but the GDP for the entire 2010 should increase 7.9 per cent.

Economics

The Future of Asia: greener but with a public and private debt hangover

The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand

Published

2 weeks ago

March 28, 2021

Headline Editor

The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.

(more…)

Economics

50:50 campaign may not get immediate extension

Published

2 weeks ago

March 26, 2021

National News Bureau of Thailand

BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

Source link

Economics

Customs Department Considers Measures to Help SMEs

Published

3 weeks ago

March 24, 2021

National News Bureau of Thailand

BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

(more…)