Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Thailand’s pandemic-shattered economy suffered its worst full-year performance in more than two decades, data showed Monday, with officials citing the toll of both a gutted tourism industry and ongoing political upheaval. Last year’s 6.1 percent contraction was the worst since a 7.6 percent decline during the Asian financial crisis in 1997 and officials said they
The soaring price of Bitcoin is making headlines around the globe following news that electric-car maker Tesla, one of the world’s largest auto firms by market valuation, has invested $1.5 billion in the cryptocurrency. Bitcoin has always generated excitement among youngsters of the internet generation, seen by many as a sure means to get rich
Public Debt Management Office (PDMO) chief Patricia Mongkhonvanit on Wednesday encouraged people to purchase newly issued government savings bonds worth Bt8 billion. The Bt8 billion issuance is part of Bt55 billion in savings bonds being offered under the Rao Chana (We Win) scheme to fund COVID-19 recovery efforts. Retail investors can buy the bonds at
A total of Bt210 billion is being pumped into Thailand’s latest COVID-19 relief effort, but experts say needy Thais could fall through cracks in the scheme. The Rao Chana (We Win) scheme aims to cover almost half the population with payments of Bt7,000 each. However, complaints about the scheme’s eligibility criteria have already triggered doubts
Prime Minister Prayuth Chan-o-cha admitted today (Wednesday) that neither the government nor the Bangkok Metropolitan Administration (BMA) can shoulder the financial burden of prolonging the freeze on fares on the Green Route train service. Bangkok Governor Aswin Kwanmuang ordered the postponement of the fare increase, to a maximum of 104 baht from February 16th for
More than 5.7 million people, out of about 10 million who registered to receive 7,000 baht each under the Rao Chana stimulus scheme, have passed the screening process and will be eligible for the cash subsidies, said Kulaya Tantitaemit, inspector-general of the Finance Ministry on Monday. The ministry will announce the names of those who
The government has declared Chinese New Year’s day, which falls on Friday February 12th, a special public holiday and Prime Minister Prayut Chan-o-cha is encouraging Thai people, not just those of Chinese descent, to spend during the long weekend, as a boost for the economy, said Ms. Traisulee Traisoranakul, deputy government spokesperson, on Sunday. As
The private sector on Phuket has joined forces to push for a self-funded vaccination program, to inoculate up to 70% of its population, in the hope that the resort island will be able to reopen to foreign tourists on October 1st, which is the start of the annual tourism season. Representatives of tourism-related businesses, which
The Ministry of Tourism and Sports is considering plans to attract foreign tourists back to Thailand, and may allow vaccinated foreigners to enter the country without the need for 14 days in quarantine on arrival. The Tourism and Sports Minister, Pipat Ratchakitprakarn,revealed today that the aim is to have 5-10 million foreign tourists enter Thailand
Asian and European markets suffered more losses Friday, capping a painful week for global equities that has been characterised by fears over surging infections and stuttering vaccine rollouts. Traders have been licking their wounds after the worst global rout since October, following a months-long rally that has seen several indexes strike record or multi-year highs.
Asian markets suffered further losses Thursday, tracking a rout in New York and Europe as markets were hit by a perfect storm of worries about the slow rollout of vaccines, surging infections, a stuttering economic recovery, and high valuations. After a months-long rally sent several indexes to records or all-time highs, investors have started to
Thailand’s cabinet decided today to cut the employee contribution to the Social Security Fund from 3% to 0.5% of their salaries for February and March, but to retain employer and government contributions at 3% and 2.75% respectively. The cabinet also approved the Labour Ministry’s proposal to review the management of migrants from Myanmar, Laos and
