Connect with us

Economics

Thai flood may shrink GDP by 2% says World Bank

Thai flood’s damage is likely to cost at least Bt100 billion and perhaps even amount to more than Bt200 billion and to shrink the country’s gross domestic product (GDP) by 2%, Kirida Bhaopichitr, World Bank senior economist for Thailand said.

Avatar

Published

on

Aid workers in Thailand warn of possible water-borne disease outbreaks

Thai flood’s damage is likely to cost at least Bt100 billion and perhaps even amount to more than Bt200 billion and to shrink the country’s gross domestic product (GDP) by 2%, Kirida Bhaopichitr, World Bank senior economist for Thailand said.

Thai economic growth in the fourth quarter is projected to be negative. However, the World Bank must continue monitoring the situation for further assessments as the flood crisis has not ended yet.

Loading...

Thai economic growth will be revised downward about December, from earlier projected growth of 3.7 per cent.

But the Thai economy in 2012 is likely to expand more quickly than the World Bank’s projection at 4.2 per cent indicates due to Thailand’s post-flood rehabilitation projects now being considered, which will boost economic activities in the country as well as GDP growth, Ms Kirida said.

In the short term, foreign investors will not relocate their production bases elsewhere as Thailand’s basic infrastructure and regulations facilitate investment. Currently Thailand ranked 17th having moved upward from its 19th ranking among 183 countries in the World Bank Doing Business Report on measures of whether regulations make doing business easier or harder.

For the medium- and long-term, foreign investor decisions depend on the government’s post-flood measures and new standards to protect industrial estates from flooding in the future.
The World Bank believes it is time for Thailand to have and apply effective water management because from 2014-2015, China will start operations of five or six dams which will affect water conditions further downstream in the Mekong River and in Thailand.

Please refer to the complete article here

Economics

Thai fruit exports to FTA markets up 107 percent

China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian, mangosteen, longan and mango. Thai exporters are able to benefit from FTA privileges.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.

Loading...
(more…)

Continue Reading

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

Avatar

Published

on

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

Loading...
(more…)

Continue Reading

Economics

50:50 campaign may not get immediate extension

National News Bureau of Thailand

Published

on

logomain

Loading...

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

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,973 other subscribers

Latest

Trending