Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Economic growth in developing Asia and the Pacific will slow to 5.1 per cent this year and next year, down from 5.4 per cent last year, as the Middle East conflict and trade uncertainty weigh on the region, the Asian Development Bank (ADB) said today.
The Cabinet, at its special meeting today, agreed to roll out a package of measures to cushion the impacts of oil price rises on various sectors of Thai society, from the poor, SMEs and the agricultural sector to public transport operators, contractors with binding contracts with state agencies and ordinary people who want to switch their internal combustion vehicles to EVs or install rooftop solar panels to reduce their electricity bills.
The Thai government is facing a daunting task juggling a budget deficit aggravated by rising oil prices, while also providing relief measures for businesses and consumers impacted by high fuel prices and an economic slowdown.
Most respondents doubt the three technocrat ministers can steer the country through the current energy and economic crises, and most do not sympathise with the government of Prime Minister Anutin Charnvirakul, according to a NIDA poll.
Thailand finds itself once again in the crosshairs of the Trump administration even before the uncertainties caused by US tariff policies had been ironed out.
The new finance minister, Ekniti Nitithanprapas, is forming an advisory team as part of his efforts to drive economic policy, which is expected to include Santitarn Sathirathai, who is known for his extensive experience in economic policy and global financial analysis.
Thailand’s Commerce Ministry has officially launched a nationwide campaign aimed at easing the impact of the rapidly rising cost of living by partnering with manufacturers and retailers to offer deep discounts on thousands of daily essentials.
Thailand is to increase coordination between the government and private sectors under a ‘Team Thailand’ approach, to confront rising geopolitical tensions and global economic uncertainty, while accelerating negotiations on the long-waited free trade agreement with the European Union (EU).
Prime Minister Anutin Charnvirakul has dismissed foreign media’s branding of Thailand as the “sick man of Asia”, claiming that foreign investors continue to have confidence in Thailand.
The oversupply problem of locally grown Nam Hom coconuts has been steadily addressed, thanks to measures implemented by the Commerce Ministry that have helped shore up market prices.
The Commerce Ministry plans to open “Blue Flag” outlets as alternative sources of reasonably priced consumer products to help ease the financial burden on consumers as the cost of living continues to rise, driven by higher oil prices.
Numerous fishing vessels in the coastal waters of Songkhla and Samut Songkhram are no longer setting out to sea as subsidised diesel becomes increasingly unaffordable.
