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Thai economy set to register positive growth in the fourth quarter

BANGKOK, Nov 14 (TNA) The Thai economy is set to register positive growth in the fourth quarter this year given a marked increase in revenue earned from exports, according to Permanent Secretary for …

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The Thai economy is set to register positive growth in the fourth quarter this year given a marked increase in revenue earned from exports, according to Permanent Secretary for …

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Thai economy set to register positive growth in Q4

Infrastructure services, if quickly improved, could promote a better investment climate in Thailand

Thai economy set to register positive growth in Q4

Import tariffs on machinery are waived for regional operating headquarters. The Board of Investment cancels import tariffs on machinery used in conducting research and development activities by regional operating headquarters (ROHs). This is in addition to the existing privileges such as a permission to own land and remit foreign currency abroad as well as preferential corporate and income tax rates. Looking forward, related agencies such as the Revenue Department, the Bank of Thailand, and the Department of Business Development plan to streamline other rules and regulations that help to promote ROHs in Thailand.
In January 2009, the overall economy in Thailand continued to contract from the same period last year, with continual large contractions in manufacturing production and export. Private consumption and investment trended downward, in line with a considerable drop in import. Furthermore, major crops production and price continued to decelerate, resulting in a slowdown in farm income. Nevertheless, tourism sector observed a smaller contraction. External stability remained sound with high international reserves as well as trade and current account surpluses following a marked decrease in import. Regarding internal stability, January’s inflation in Thailand turned negative for the first time since October 1999. Even though the unemployment rate remained low, manufacturing employment continued to decline.

External stability in Thailand was upheld by high international reserves, while trade and current account were close to balance. Regarding internal stability, inflation rose from last year in line with higher oil prices, despite a downward trend during the second half of the year. Unemployment rate remained low in Thailand in 2008 but employment started to deteriorate in the forth quarter, particularly in the production sector affected by economic slowdown.

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Thai economy continued on a decelerating trend in January

In January 2020, the Thai economy continued to be on a decelerating trend According to a Press Release by the Bank of Thailand

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According to the Press Release on the Economic and Monetary Conditions for January 2020 (Bank of Thailand), the Thai economy continued on a path of deceleration in January, contracting from the previous month in the value of merchandise exports excluding gold, manufacturing production, private investment indicators, and public spending.

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Economics

NESDB projects 1.5-2.5 percent growth in 2020

With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.

National News Bureau of Thailand

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Construction Workers in Bangkok

This year, the country’s economy is facing another big concern from the COVID-19 virus situation. With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.

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Economics

COVID-19 Set to Dampen Asean and China’s Economic Growth

The SARS outbreak provides a useful benchmark, but there are significant differences between that epidemic and the latest one.

Boris Sullivan

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Coronavirus Asia

The ongoing coronavirus outbreak will dampen economic growth in China this year, but the scale of the impact remains uncertain and will depend on the duration and intensity of the health crisis, says Fitch Ratings.

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