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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.

″(The protests) could potentially delay, if not even derail, the economic recovery. You know, despite Thailand (being) relatively successful in flattening the Covid-19 curve,” Euben Paracuelles, chief Asean economist at Nomura, told CNBC’s “Street Signs Asia” on Thursday.

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 that could leave protesters jailed under the country’s lese majeste laws, which protect the monarchy and forbid insults to the king and his family.

Protests in Thailand could ‘derail’ its economic recovery, warns Nomura

Thailand is no stranger to political turmoil, having seen one of the highest number of military coups in modern history.

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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.

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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.

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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

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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.

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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

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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.

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Thu 29

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

October 28 @ 8:00 am - October 30 @ 5:00 pm BMT
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Vend ASEAN 2020

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

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