Connect with us
Thailand Business Directory

Economics

Thailand Development Research Institute (TDRI) forecast 2.8% growth in 2016

Thailand Development Research Institute (TDRI) forecast the country’s economic growth this year at 2.8%.

Avatar

Published

on

TDRI director Ms Kirida Phaophichit attributed the growth figure to government investments in infrastructure projects and low oil prices.

These factors will support the economy this year, she said. She also forecast the tourism sector to expand 15%.

However, factors that could affect the economy are exports and drought crisis.

She said exports should shrink again this year for the third consecutive year due to slow economic recovery of the country’s trading partners.

Meanwhile the ongoing drought crisis will also affect consumption in the agricultural sector and reduce the country’s gross domestic product (GDP) by 0.5 percent or 60 billion baht, she added.

Thailand’s economy slowed in the 2015 final quarter, but growth improved to 2.8% for the year 2015, powered by government stimulus measures and a surge in tourist spending.

Southeast Asia’s second-largest economy grew 0.8 per cent in the final quarter of 2015 from July-September on a seasonally-adjusted basis, less than the 1.0 per cent in July-September and the 0.9 per cent expected in a Reuters poll.

Gross domestic product grew 2.8% from a year earlier in the three months to December, slowing from 2.9% in the third quarter, though slightly stronger than a median forecast of 2.65% by 14 economists polled by The Wall Street Journal.

Source: TDRI forecast 2.8% growth this year – Thai PBS English News

Comments

Economics

IMF inches up Thailand’s GDP forecast from -7.7% to -7.1%

The International Monetary Fund’s (IMF) has revised up Thailand’s economic outlook to a 7.1 percent contraction, from a 7.7 percent decline, due to the government’s measures to support the business sector.

Avatar

Published

on

Photo : Stephen Jaffe/IMF
Photo : Stephen Jaffe/IMF

The International Monetary Fund (IMF) has adjusted Thailand’s GDP growth forecast, from -7.7% to  -7.1% for 2020.

(more…)

Continue Reading

Banking

Bank of Thailand: five big challenges in resolving the economic crisis

According to the Bank of Thailand, financial stability of the country is sound while external stability remains strong, with low and manageable levels of public debt, and a flexible labor market.

Boris Sullivan

Published

on

Mr. Sethaput Suthiwartnarueput, Governor of the Bank of Thailand (BOT) revealed in his first meeting with the press, that the public health crisis brought about by COVID-19 has severely impacted global economic activities, including Thailand.

(more…)

Continue Reading

Economics

Thailand approves 30K baht tax deduction to stimulate domestic spending

The campaign offers taxpayers income tax deductions of up to 30,000 baht when purchasing products and services with a value-added tax (VAT) component, but excludes alcoholic beverages, tobacco, lottery tickets, fuel, accommodation and air tickets.

National News Bureau of Thailand

Published

on

Pantip Plaza Electronic display

BANGKOK (NNT) – A meeting of cabinet ministers has approved the Shop Dee Mee Kuen campaign, aimed at stimulating domestic spending, taking effect from October 23rd to December 31st this year.

(more…)

Continue Reading

Cart

Most Viewed

Events Calendar

« October 2020 » loading...
M T W T F S S
28
29
30
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1
Thu 29

Vend ASEAN(Bangkok)Vending Machine & Self-service Facilities Expo 2020

October 28 @ 8:00 am - October 30 @ 5:00 pm BMT
Thu 29

Vend ASEAN 2020

October 28 @ 10:00 am - October 30 @ 6:00 pm BMT

Subscribe via Email

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

Join 13,071 other subscribers

Latest

Trending