Public confidence in the expansion of the Thai economy continues to improve after a clear election date has been set fourth and a comeback in the number of Chinese tourists.
The University of the Thai Chamber of Commerce expects spending during Valentines and Makha Bucha Day at no less than 6.3 billion baht.
Director of the Economic and Business Forecasting Center at the UTCC Thanawat Polvichai revealed that the consumer confidence index in January 2019 stood at 54.5, improving for the first time in 5 months, as consumers perceived that the election date would clearly benefit the Thai economy.
The trade war between the United States and China is beginning to ease
Meanwhile, the trade war between the United States and China is beginning to ease while Chinese tourists are also beginning to return to Thailand.
These factors, in addition to the rise in many agricultural prices, should result in the increased purchasing power and public confidence. The consumer confidence index in the future over the next 6 months also improved to a level of 92.3.
Surveys of spending during Valentines day expects no less than 3.7 billion baht in spending, down from the same period last year by 3.17%, the first negative rate in 13 years due to consecutive festivals, including Chinese New Year, Valentine’s Day and Makha Bucha Day.
The drop reflects the cautious spending behavior and worries over economic expansion. Spending among couples is expected at around 2.3 billion baht over mostly gifts, flowers, chocolates and eating out.
Spending during Makha Bucha Day is expected to expand by 3.12% to over 2.6 billion baht, averaging at 1,642 baht per person. Most activities include making merit, giving alms, and vacationing.
Reporter : Jettana Pantana
Rewriter : Tarin Angskul
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.
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.
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
50:50 campaign may not get immediate extension
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.
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