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Economics

COVID-19 reduces Thai household income by 70 percent

The ongoing COVID-19 pandemic has already decreased Thailand’s monthly household income by 70 percent.

National News Bureau of Thailand

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The Office of the Royal Society has organized a round-table discussion about the economic hurdles caused by the ongoing COVID-19 pandemic, which has already decreased Thailand’s monthly household income by 70 percent.

BANGKOK (NNT) – Speaking of post COVID-19 economic recovery, since the government’s new economic team took office, a survey by Suan Dusit Poll reveals that many people want the government to create more jobs, shore up prices of agricultural products and stimulate domestic consumption.

According to the online survey on solutions to economic issues, 85 percent of the respondents want to see more jobs created to solve economic problems at the household level. Other issues include income generation, improving welfare benefits and a supension of debt repayments.

At the community level, they would like the government to focus on shoring up prices of agricultural products, followed by resource optimization, a strengthening of communities and creation of local jobs while regulating middlemen.

At the national level, the respondents want the government to further support the agricultural sector, followed by export and tourism promotion, increasing investor confidence and supporting the industrial sector.

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Economics

Protests could hinder Thailand’s economic recovery from Covid-19

Some of the demands from protesters in the current civil unrest include constitutional amendments and an unprecedented call for reforms to the monarchy — traditionally a taboo subject in Thailand.

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As protests continue to sweep across Thailand, one economist at Nomura warns that civil unrest could hinder the country’s economic recovery from the coronavirus pandemic.

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Economics

Thai exports fall 7.94% in August

The Trade Policy and Strategy Office (TPSO) has indicated that Thai export sector has improved for two consecutive months in August with a smaller than expected drop of 7.94%

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seaport during golden hour

Thai exports fell by 7.94 per cent to US$20.21 billion in August from a year earlier, the Commerce Ministry said on Wednesday, a smaller than expected drop, according to Reuters.

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Economics

Developing Asia’s Economy to Contract 0.7% in 2020 (ADB)

Economies across developing Asia will contract this year for the first time since 1960, according to a report released by the Asian Development Bank (ADB) today.

Boris Sullivan

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The Asian Development Outlook (ADO) 2020 Update forecasts -0.7% gross domestic product (GDP) growth for developing Asia this year—marking its first negative economic growth since the early 1960s. 

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