Economy

Some good news for Thai economy amid many negative factors

The Thai economy grew 4.5 per cent year on year in the third quarter of 2022, exceeding market expectations.  Gross domestic product (GDP) growth in the third quarter nearly doubled…

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Central bank raises key interest rate to 1.25% with immediate effect

The Bank of Thailand’s Monetary Policy Committee decided unanimously today (Wednesday) to raise the key interest rate, with immediate effect, by 0.25% to 1.25%. Piti Disyatat, spokesman for the committee,…

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Chiang Mai’s cabbage growers appeal for government assistance

Growers of Chinese cabbage in Chiang Mai Province are seeking help from the government after the ex-farm prices of their produce plunged to only two baht per kilogram, while their…

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Private sector White Paper on economic development submission to the government

The private sector will submit their White Paper to the Thai government, proposing plans for urgent economic development in the country. The White Paper is a summary of proposals discussed…

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Close up of asian woman with calculator counting money. Woman calculating the spending at home.

How Thai law protects debtors who fall behind on repayments

Though Thailand has laws to protect debtors, many Thais do not know how to handle demands for repayment. Some of them endure verbal or even physical abuse when they fall…

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Thailand’s car sales for the first ten months jump 17%

Domestic car sales in Thailand, in the first ten months of 2022, were 698,305 vehicles, representing a 17.09% increase, compared to the same period last year, according to the Federation…

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(FILES) In this file photo taken on July 18, 2022 tourists gather and take pictures in the grounds of the Grand Palace in Bangkok. (Photo by Jack TAYLOR / AFP)

Thailand’s economic think tank predicts 3.2% growth this year

Bolstered by recovery in the tourism sector, Thailand’s economic growth for the whole of 2022 is forecast to be 3.2%, without further need for major economic stimulus packages, according to…

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฿81.2Bn set aside to guarantee prices of 2022-2023 rice crops

The Thai government agreed today (Tuesday) to set aside 81.2 billion baht to subsidise the rice price guarantee scheme for the 2022-23 rice crops, with an aim to export 7.5…

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Diesel price in Thailand to be pegged at current level for two more months

The Thai cabinet has decided to subsidise the diesel price until January 20th, which means a loss of excise tax revenue for the state of another 20 billion baht. After…

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How far can Thailand’s ambitious BCG push go in the APEC community?

Thailand’s intention to push the Bio-Circular-Green economic model on the agenda of the Asia Pacific Economic Cooperation (APEC) meetings is mostly aimed at benefiting domestic big conglomerates, rather than driving…

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Cabinet endorses withdrawal of controversial foreign land-ownership edict

The Thai cabinet approved the Interior Ministry’s withdrawal of the ministerial edict on foreign land-ownership for reconsideration today (Tuesday), following widespread opposition to the plan. Government Spokesman Anucha Burapachaisri said…

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Real estate sector to propose alternative to foreigners buying land in Thailand

Thai real estate business operators will propose that the government allow foreigners to buy houses on up to 0.16 hectares (one rai) of land, as an alternative to the right…

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62,000 debtors apply for debt restructuring through Thailand’s central bank

More than 62,000 people have applied to restructure their debts since September 26th, at the Online Debt Restructuring Fair, organised by the Bank of Thailand. Suwannee Jatsadasak, senior director of…

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Most Thais want to quit their job but don’t

The “Great Resignation” is the biggest trend in the employment market resulting from COVID-19, for Western countries at least. For Thailand and others in this region, however, while resignation certainly…

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The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas

IMF report indicates growing risks to global financial stability

The risks to global financial stability have increased across the world since April this year in face of high inflation and low interest rates, the latest semiannual Global Financial Stability…

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Thai exports to Saudi Arabia increase by 15.9% in eight months

Thailand exported goods worth more than 43 billion baht to Saudi Arabia during the first eight months of this year, representing an increase of 15.9% year on year, according to…

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The baht feels the weight of strengthening US dollar

The Bank of Thailand (BOT) has been facing the delicate task of navigating the baht and the economy through turbulent waters.  As the government has apparently almost run out of…

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After Kuala Lumpur, Bangkok has the most affordable monthly rent for a 1-bedroom city centre property, at £451, and a meal costs just £2.11. (Photo by Andreas Brücker)

Survey – Bangkok among 5 best cities for expats to live and work in 2022

Bangkok has been ranked 5th among the world’s top 10 cities for expats to live and work this year, according to the global expat index by the online language learning platform…

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Bio-circular-green economy: Good for the World, Good for the Country

Thailand’s three leading public organizations have announced their commitment to support and promote the country’s bio-circular-green economy (BCG) vision, while echoing their views on the critical role of BCG as a new…

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(AP Photo/Thanassis Stavrakis, File)

Inflation hits record 10% in 19 EU countries using euro

Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of…

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France’s President Macron invited to APEC meeting in November

Thailand has invited French President Emmanuel Macron to attend the Asia Pacific Economic Cooperation Leader’s Meeting (APECLM) in November, Thai PBS World has learned. The invitation is special, because France…

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Thailand’s currency weakens to 38 baht per US dollar

The Thai baht continues to weaken against the US dollar, falling to 38/$US, mainly due to the strengthening of the greenback, as a result of the recent increase in the…

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Central bank increases key interest rate to 1.00 percent effective Wednesday

The Bank of Thailand’s Monetary Policy Committee (MPC) has unanimously voted to increase the key interest rate by 0.25%, to 1.00%, with immediate effect. The central bank said, in a…

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Electricity and water bill discounts for welfare card holders extended to April

The Thai cabinet agreed to extend discounts on electricity of not more than 50 units and tap water not exceeding 315 baht per month for holders of welfare cards until…

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Lure of high yields, lax regulators behind Ponzi scams

More than 13,000 victims are estimated to have suffered losses of several billion baht as a result of the latest alleged Ponzi scheme, under the name Forex 3D, supposedly engaged…

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Rakesh Saxena and the Thai banking scandal that triggered Asia’s financial crisis

Once known as a “financial wizard”, Indian-born Rakesh Saxena now faces decades in jail for a Thai banking scandal that triggered the 1997 Asian financial crisis. Following a legal battle…

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Phuket ready for first major vegetarian festival in two years

The Tourism Authority of Thailand (TAT) on Phuket has predicted that more than 200,000 Thai and foreign tourists will visit the resort island during the 9-day vegetarian festival next week….

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ASEAN region is forecast to lead the world in export growth over the next five years. (Photo by Z @dead____artist)

ASEAN highlighted in Global Trade Growth Atlas 2022

The newly release Global Trade Growth Atlas 2022 has put the Association of Southeast Asian Nations (ASEAN) in the spotlight because the region is forecast to lead the world in…

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Tourism rebound lays foundation for Thai economic recovery

The recent recovery in tourism, as reflected in the rapid rise in foreign arrivals, is offering Thailand’s ailing economy a lifeline in the aftermath of the COVID-19 pandemic. The government…

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Thailand’s daily wage hike will not necessarily put more food on the table

Although the minimum daily wage will rise by an average of 5 percent from October 1, not many workers see a brighter future. “The increase will not make my life…

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Thailand’s teachers accumulate combined debts of ฿1.4 trillion

Over 900,000 teachers, or 80% of all teachers in Thailand, owe a combined total of about 1.4 trillion baht, with teacher savings cooperatives being the biggest creditors, accounting for 890…

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3.07m unused entitlements under co-payment scheme to be redistributed

Thailand’s Ministry of Finance will open for applications for 3.07 million unused entitlements under the 5th phase of the 50:50 co-payment scheme, according to Pornchai Thiraveja, director-general of Fiscal Policy…

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Thai cabinet extends 5-baht per litre excise tax cut for diesel until November

The cabinet decided today (Tuesday) to extend the excise tax cut of five baht per litre of diesel fuel for two more months, from September 21st to November, in order…

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Thai cabinet approves new minimum wages, effective October 1st

The Thai cabinet approved the new minimum wage rates today (Tuesday), as proposed by the tri-partite Wage Committee, to become effective from October 1st. The last time that minimum wages…

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Vietnam’s VinFast hands over first electric SUVs, eyes U.S. deliveries

Vietnamese carmaker VinFast on Saturday (September 10) began handing its first batch of 100 all-electric sport utility vehicles (SUVs) over to local customers, with U.S. deliveries of the vehicle due…

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Many analysts have pointed out that tensions between major world superpowers have intensified, which will further restrict international trade and prolong the high price of energy. (Photo by @tawatchai07)

Global headwinds could blow Thai economy off track 

The decelerating export growth in July has raised concerns that the outlook for Thailand’s economic growth may be bleak because of an increasingly likely global slowdown. The Thai economy grew…

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Free university education would boost equality – but can Thailand afford it?

The student debt forgiveness campaign believes the budget Thailand has set to reduce inequality – 700 billion baht – should be more than enough to ensure education is “really free”….

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Consumers feeling the pinch of rising cooking gas and electricity prices

Consumers will soon feel the pinch of the higher cost of living, as the higher prices for cooking gas and electricity come into effect today (Thursday). From today, the retail…

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Creative Economy Agency empowers Thai creative business on the global stage

With the goal of taking Thailand’s creative industry to another level and having a greater impact on GDP, the new leadership of the Creative Economy Agency (CEA) has unveiled a…

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Poor market sentiment sinks SCB’s multi-billion-baht deal for Bitkub

Siam Commercial Bank (now named SCB X), Thailand’s oldest commercial bank, created a flutter in the markets in November last year when it announced a multibillion deal to buy a majority…

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Are consumers paying price for electricity mismanagement in Thailand?

Over the next four months, electricity in Thailand will soar from 4 baht per unit to a record high of 4.72 baht. Authorities blame the hike on rising global fuel…

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Thai finance minister says committed investment projects unaffected by political risks

Wednesday’s suspension of Prime Minister Prayut Chan-o-cha from his duties by Thailand’s charter court may raise questions over whether investor confidence and public investments are being affected. The country’s finance…

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To write off or not to write off: Two sides of student loan repayment battle

The Student Loan Fund (SLF) is dismissing calls for it to write off 337 billion baht of loans taken by students to fund their education. Over the past few weeks,…

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Household electricity users to get discounts from September to December

Thailand’s Committee on Energy Policy Administration (CEPA) agreed today (Monday) to help shoulder the burden on household electricity consumers through discounts from September until December, the period the fuel tariff…

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Households, businesses to pay more for electricity from September as FT rate raised

Thailand’s Energy Regulatory Commission (ERC) has decided to raise the FT (fuel tariff) for electricity for September through December by 68.66 satang per unit, which will bring the average rate…

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Instant noodle producers seek quick permission to hike prices amid rising costs

Five manufacturers of instant noodles are urging Thailand’s Internal Trade Department to speed up consideration of their demand for a price increase on instant noodles, from 6 to 8 baht,…

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A lottery vendor waits patiently for buyers in Bangkok.

Hardscrabble lottery vendors hit by digital revolution

Small lottery vendors across the country are now dreading the expansion of digital lottery tickets – which are sold not just through major private electronic platforms but also on the…

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Thailand’s Monetary Policy Committee increases policy rate to 0.75%, with immediate effect

The country’s Monetary Policy Committee (MPC), one of the main committees of the Bank of Thailand, decided today (Wednesday), by a vote of 6 to 1, to increase the policy rate…

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How the US rate hike impacts the baht and Thailand’s economy

The US is the world’s largest economy and the US dollar is widely used worldwide, as a result, the actions and decisions of the US Federal Reserve (Fed) have a…

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Lessons to learn from Zipmex’s troubles and the crypto market turmoil 

The role of a digital asset exchange is to serve as a marketplace where investors can buy and sell their cryptocurrencies and other digital assets, while the revenue of the…

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A closer look at the new education bill that will shape the future of Thailand 

The National Education Bill is set to enter the Parliament for further deliberation in September, sparking new hope for some but concern for others.  The passage of this bill is…

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Cabinet approves 5th phase of co-payment scheme for September-October

The cabinet decided today (Tuesday) to roll out the 5th phase of the popular 50:50 co-payment scheme by providing 800 baht to each of the 26.5 million Thais who have…

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Photo by Lillian SUWANRUMPHA / AFP

Thai economy expected to be affected by global turbulence for 2 more years

Thailand’s economy will be affected by global economic turbulence, which may for last two years, during which growth in Thai exports will contract while domestic inflation will increase, said Kobsak…

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Thailand has proposed organizing the Phuket Expo between 20 March and 17 June 2028 and expects to welcome 4,930,000 visitors. (Photo by Jack TAYLOR / AFP)

TCEB and Phuket unite for BIE assessment of Expo 2028 bid

Thailand’s public and private sectors are busy preparing for an inspection by the Bureau International des Expositions (BIE) from July 25 to 29 which will assess the feasibility and viability…

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The headquarters of the European Central Bank (ECB) is pictured in Frankfurt am Main, western Germany, on June 15, 2022. – Europe’s equities rebounded as the European Central Bank began an emergency meet to discuss volatile eurozone bond markets and soaring inflation, while investors also braced for a major US rate hike. (Photo by Daniel ROLAND / AFP)

ECB surprises with aggressive rate hike, first since 2011

The European Central Bank on Thursday brought an end to the era of negative interest rates in the eurozone, with a bigger than expected half-point hike as inflation soars and…

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Thailand’s diesel price capped at ฿34.94 per litre for the 5th week

The Fuel Fund Executive Committee decided today (Tuesday) to hold the retail price of diesel at 34.94 baht/litre for the fifth consecutive week, to ease the burden on consumers. Oil…

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What the weakening baht means for Thailand’s economy

The plunging value of the baht appears ominous and raises worrying questions about its impact on the Thai economy. On Friday (July 15), the baht fell to 36.73 to the US dollar, its…

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Thailand’s trade deficit for June amounts to 40 billion baht as currency weakens

Thailand’s trade deficit for the month of June was over 40 billion baht, partly due to a 19% increase in the value of imports, especially energy. The figure includes a…

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INA FASSBENDER / AFP

What’s next for the euro after slump against dollar?

The euro’s plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in…

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Retail price of bottled palm oil in Thailand reduced by up to ฿5

Retail prices of one-litre bottles of palm oil at department stores and super markets have reduced from 69-70 baht to 64-65 baht, in response to a request from the Internal…

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Thai crypto market feels the pains of global meltdown

Cryptocurrency trading in Thailand has followed global trends and witnessed a steep plunge, as investors sell off financial assets, including equities and bonds. With many countries bogged down by high…

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PTT, Bangchak gas stations crowded with vehicles queuing to fill up following price cut

Many cars and trucks have been queueing at PTT and Bangchak service stations in Thailand since 5am this morning (Friday) to refill their vehicles, after the two oil companies cut…

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Energy minister sees slim chance of Thailand’s oil prices falling

Oil prices at gas stations in Thailand are unlikely to drop, although global oil prices are declining because the government has to support the Oil Fuel Fund, which will have…

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The severe fallout from the pandemic and the sudden collapse of the tourism industry — which accounts for about 20 percent of Thailand’s gross domestic product (GDP) — has weakened the baht, pushing it to a five-year low. (Photo by Kiratikorn Naksompop Blauw)

Baht’s current slide is a grim reminder of its crash 25 years ago 

On July 1, at some point during the day, the baht fell to 35.66 to the dollar, its weakest in five years. It closed at 35.63 at the end of…

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Bitcoin falls below $19,000, further shaking crypto markets

June 30 (Reuters) – Bitcoin dropped 6.1% to $18,866.77 at 2004 GMT on Thursday, putting the biggest and best-known cryptocurrency down $1,226.41 from its previous close and down 60.9% from…

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The Michelin Guide announced the addition of Nakhon Ratchasima, Ubon Ratchathani, Udon Thani, and Khon Kaen as representative cities of the Isan region that will be featured in the sixth edition of Michelin Guide Thailand.(Photo by Jerome Jome)

Tips on how and what to cook at home widely shared to beat rising prices

Many wage earners are finding ready-made food, available in markets, convenience stores and at pavement eateries, increasingly unaffordable and are seeking advice on how to cook for themselves. One desperate…

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Photo from Instagram mrt_bangkok

Bangkok’s MRT Blue Line fares frozen until year-end

Bangkok Expressway and Metro Public Company Limited (BEM) has agreed to freeze fares on the Blue Line of the metro system, or the MRT, currently between 17 and 42 baht,…

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Planned 59-baht maximum fare on BTS extensions opposed

Thailand’s Consumer Council (TCC), a non-profit consumer protection network, has voiced its strong objection to the planned 59-baht maximum train fare for the two extended routes of the BTS sky…

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Land appraisal prices in Thailand to be raised in 2023

After a 12-month delay, the Thai Treasury Department will put into force a new national land appraisal price list for 2023-2026 on January 1st 2023. It will see the appraisal…

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International headwinds offset Thai economy’s gains

Despite the fast-rising inflation driven largely by food and energy costs, some economic research houses have recently revised upward or at least maintained their economic growth projections for Thailand for…

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Inflation hitting food manufacturers and food sellers hard

Inflation is taking a toll on food manufacturers and restaurant owners, forcing them to adapt to keep their businesses afloat even as consumers cut back on expenses. Soaring energy bills…

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Government measures extended to help small businesses, low-income earners

The cabinet decided today (Tuesday) to extend the current measures intended to cushion the impacts of rising energy prices for those with low incomes and small businesses, to help with…

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Bitcoin plunges below $20,000

Bitcoin plunged below $20,000 on Saturday, shedding nine percent from the previous day to fall to $18,740, its lowest level since December 13, 2020. With investors increasingly wary of risk, the world’s most popular…

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Studies show that, in the Asia Pacific region, one and a half years ago, the cost of an energy-sufficient diet was approaching one dollar per person per day. The cost of a healthy diet per person per day had exceeded 3.50 dollars. That makes healthy food unaffordable for many people when the poverty line is 2 dollars per day. (Photo by AFP)

Most important thing is to ensure no one is hungry

Food insecurity might not be an issue that many people in Thailand worry much about. The recent economic hardships from the impacts of COVID-19 and the conflict in Ukraine, which…

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Thailand freezes prices of 46 products for another year

The Central Committee on the Price of Goods and Services has decided to freeze the prices of 46 items, including instant noodles, vegetable oil, canned food and five services, until…

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Cooking gas price to increase by ฿1/kg every month from July to September

The price of cooking gas in Thailand will be increased by one baht/kg every month for three months, which will send the price of a 15kg cylinder of household cooking…

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Fed rolls out biggest rate hike since 1994, flags slowing economy

WASHINGTON (Reuters) – The Federal Reserve on Wednesday approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that U.S….

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Bitcoin stems heavy losses but pessimism reigns in crypto markets

LONDON (Reuters) – Bitcoin steadied on Tuesday after earlier hitting a new 18-month low, as major crypto lender Celsius Network’s freezing of withdrawals and the prospect of sharp U.S. interest…

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Thailand’s inflation could reach 5.9% – the highest for 24 years

Thailand’s inflation for this year is projected to rise from 4.9% to 5.9%, which would be the highest in 24 years. It may peak at 7% during the third quarter,…

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Green Line could be a tough ride for Chadchart

Managing the controversial Skytrain Green Line shrewdly, bogged down as it is by controversies over high fares, court battle over debt and extension of concession, is going to be a…

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In this photo provided by the New York Stock Exchange, a trio of specialists work at a post on the floor, Monday, June 13, 2022. (Courtney Crow/New York Stock Exchange via AP)

Bear market hits Wall Street as stocks, bonds, crypto dive

NEW YORK (AP) — Wall Street tumbled into what’s called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below…

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Diesel up by another ฿1 per litre, to ceiling of ฿35, effective June 14

Thailand’s Fuel Fund Executive Committee decided today (Monday) to increase the diesel price by another one baht per litre, to 34.94 baht, effective tomorrow, the fourth rise since May 1st…

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Durian is Thailand’s top export earner, outranking rice and rubber

Thai durian has outranked rice and para rubber as Thailand’s top export performer, with export volume last year estimated at about 187 billion baht, compared to 100 billion baht for…

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Inequality is not a new problem, but the COVID-19 pandemic just made it more visible around the world. “Learning Loss” became a common experience for this generation of children in vulnerable groups. (Photo courtesy of APREMC II)

Generation of learning loss due to COVID-19

Education is an important tool when dealing with inequality, be it economic, social or others. Children can escape the poverty trap, whereas their parents could not do so for generations,…

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Monetary Policy Committee forecasts 4.9% inflation for Thailand this year

The Thai cabinet today (Tuesday) acknowledged the Monetary Policy Committee’s projection that the country’s inflation this year will reach 4.9%, which is higher than previous forecasts, mainly due to increases…

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Thailand to consider increasing digital lottery ticket sales following success

The Government Lottery Office (GLO) will consider whether to increase digital lottery ticket sales after all 5.27 million were snapped up in four days and six hours, after the launch…

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Thailand’s diesel price to rise by another baht per litre from Tuesday

The Fuel Fund Executive Board decided to increase the price of diesel fuel by another baht today (Monday), to 33.94 baht per litre, effective tomorrow, following a spike in global…

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People, wearing facemasks amid fears about the spread of the COVID-19 novel coronavirus, shop in a supermarket in Bangkok on March 4, 2020. (Photo by Lillian SUWANRUMPHA / AFP)

Slim prospects for consumer goods price drop for several months

The prices of many consumer products have been increasing, as the Thai Retailer Association warns that there is little prospect that they will come down in the next few months….

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New Bangkok governor carries huge burden of expectations and promises

Pursuing an ambitious agenda, Chadchart Sittipunt, 56, is all set to become Bangkok’s first elected governor since the 2014 coup, after receiving a record-high mandate in the May 22 election….

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Price of diesel in Thailand to rise by another one baht/litre as global prices surge

The Fuel Fund Executive Committee decided today (Monday) to increase the retail price of diesel fuel by 1 baht to 33 baht per litre from tomorrow. The new price will…

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Benzene and gasohol prices increase by about 4 baht per litre in May

Retail prices of benzene and all types of gasohol have increased eight times during May, by a combined total of 4 baht per litre, with the only price drop being…

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Delivery service riders seek help from Thai government over high fuel prices

Delivery service bike riders are complaining about the rising price of gasohol and benzene and are calling for help from the government, as did users of diesel, the price of…

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Residential market remains fragile while housing prices to increase slightly

Thailand’s residential market is still facing several challenges that will prevent it from making a full recovery in the short term. Research indicates that such unfavorable factors as the pandemic…

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Thailand to begin talks on Indo-Pacific Economic Framework

The Cabinet has decided to join talks on the US’s newly proposed multilateral trade agreement, known as the Indo-Pacific Economic Framework for Prosperity (IPEF). According to the Thai government’s website,…

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Bottled palm oil price soars to over 70 baht per litre

Despite appeals to palm oil producers, by the Commerce Ministry, to maintain their ex-factory price at between 65 and 68 baht per one-litre bottle, the price of bottled palm oil…

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Thai industrial sector confidence in April lowest in five months

The confidence index of Thailand’s industrial sector for April has dropped to 86.2, the lowest since last December, due to concerns over rising production costs, according to President of the…

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Diesel price remains capped at 32 baht per litre

Thailand’s Fuel Fund Executive Committee has decided to maintain the diesel price at 32 baht per litre, at least until Sunday, even though the cabinet agreed yesterday to cut the…

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Excise tax on diesel cut by five baht/litre for two months amid high prices

The Thai cabinet decided to slash excise tax on diesel by 5 baht/litre for two months today (Tuesday), effective from May 21, to help ease the financial burden on consumers….

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Government Housing Bank’s special loans fully subscribed in 36 seconds

The Government Housing Bank’s (GHB) special low interest housing loans, worth 450 million baht in total, were fully subscribed in just 36 seconds, according to the state-run bank. The special…

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Foreign tourists walk along the popular Khaosan Road in Bangkok on May 17, 2022. Thailand’s economy grew 2.2 percent in the first quarter following an export and tourism boost after the relaxation of pandemic entry restrictions, the kingdom’s main economic agency said May 17. Lillian SUWANRUMPHA / AFP

Thailand’s 2022 GDP growth projection cut to 3%, 2.2% recorded for Q1

The National Economic and Social Development Council (NESDC) has decided to cut Thailand’s gross domestic product (GDP) growth projection for 2022 to between 2.5% and 3.5%, or an average of…

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