Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Former Finance Minister and Democrat list MP Korn Chatikavanich has voiced his concern over the financial crisis facing Thai Airways International and, at the same time, has objected to any plan to use taxpayers’ money to rescue the national flag carrier. In his Facebook post on Monday, Korn said THAI’s financial current trouble is similar
Thailand’s economic growth rate for the second quarter of this year registered at 2.3%, compared to 2.8% for the first quarter, which is the lowest in 19 quarters, said Mr. Tossaporn Sirisamphan, secretary-general of the National Economic and Social Development Board (NESDB), Thailand’s economic think-tank. Although the Thai economy is not yet in a critical
The political standoff in Hong Kong is not only fueling fears that Hong Kong may be heading for recession, but also that it may hurt Thailand’s economy. For example, Thailand’s tourism sector may suffer from a drop in inbound tourist numbers from Hong Kong in August, which is usually the most popular season for holidaymakers
Prime Minister Prayut Chan-o-cha has given assurance that his government is not overspending by disbursing 310 billion baht as part of an economic stimulus package and that the money will be spent effectively. The economic cabinet, chaired by the Prime Minister, agreed today to allocate 310 billion baht to stimulate consumption and investment, including free
The economic cabinet on Friday agreed to set up a special panel, expected to be led by Deputy Prime Minister Somkid Jatusripitak, to drive the implementation and management of economic measures and reforms. Dr. Kobsak Pootrakool, secretary of the economic cabinet, said that the special panel was necessary in light of global economic fluctuations, which
Thailand’s Government Pension Fund (GPF) has joined 32 securities companies in declaring an ESG (environmental, social, governance) Collaborative Engagement and Negative List Guidelines, under which institutional investors will be held more responsible for managing the investments of their clients. The event on Wednesday was chaired by Finance Permanent Secretary Prasong Poonthanet. GPF Secretary-General Vithai Rattanakorn
Thais, nowadays, are indebted from an early age, and the level of their debt is maintained even as they approach retirement. A study by the Bank of Thailand reports that Thais get into debt in their 20s and tend to borrow more as they age. It is not surprising, therefore, that Thailand’s household debt has
Thailand’s TMB and Thanachart banks announced Friday that they have signed a non-binding agreement to merge and become the country’s sixth largest lender. According to the statement, TMB will finance the merger through debt and equity. It will issue new shares worth 70 percent of the total deal. 50 to 55 billion baht of the
The University of the Thai Chamber of Commerce predicts that Thai exports in 2019 will drop 0.6% year on year, the first contraction in four years. Dr. Aat Pisanwanich, Director of Center for International Trade Studies (CITS) of UTCC, said that total Thai exports this year are expected to reach USD251.338 billion, 0.64% less than
Thailand’s business associations oppose the government’s plan to increase the national minimum wage to Bt400 per day and have suggested that an entry wage should be established instead, said Mr. Poj Aramwattananont, Vice Chairman of the Board of Trade of Thailand. The Board of Trade and the Thai Chamber of Commerce surveyed the opinions of
Bank of Thailand Governor Veerathai Santiprabhob, in his speech entitled “Formulating for the Future of Corporate Governance”, delivered at the Finance and Beyond National Director Conference 2019 in Bangkok today (July 24th), said Thailand faces four challenges that require good governance in businesses to address. He said that Thailand has a high level of income
With a number of state-of-the-art payment methods on display at a FinTech event last week, there are questions over whether cash will soon be relegated to history amid the proliferation of alternative ways of payment. As things stand now, banknotes are not likely to disappear anytime soon. Although many Thais increasingly use electronic payment methods,
