Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Thailand’s central bank chief, under fire from the prime minister for not cutting rates, said slower-than-expected economic growth was not a crisis as portrayed by the government, nor would it be revived by its quick-hit stimulus measures. The Bank of Thailand’s current policy rate is broadly neutral, Sethaput Suthiwartnarueput told Reuters on Tuesday ahead of
Thai Prime Minister Srettha Thavisin has kept Thais well-informed about his activities in Switzerland through numerous messages on his X account. He left Thailand for Davos to attend the World Economic Forum (WEF) on Monday and, as of Thursday, had posted nearly 20 messages and images. In the messages, he shared details of his discussions
Deputy Finance Minister Julapun Amornvivat admitted for the first time today that the launch of the digital wallet scheme, which was set for May, will be delayed. He vowed, nonetheless, that the government will proceed with the project. Julapun had repeatedly insisted that the scheme, which was at the heart of his Pheu Thai party’s
The cabinet agreed today to cut the excise tax on diesel by one baht per litre for three months, effective January 20 until April 19. Deputy Finance Minister Julapun Amornvivat said that the tax cut will help ease the financial burden on consumers, but will cost the state about Bt6 billion in revenue loss over
The cabinet agreed today to extend state price controls on five products until June 29, said Government spokesman Chai Wacharonke. The products are face masks, synthetic yarn (used in the production of face masks), hand sanitisers containing alcohol, scrap paper, paper for recycling, and chicken meat. The price controls on these products were due to
The Digital Wallet Committee has postponed today’s planned meeting, pending delivery of the National Anti-Corruption Commission’s (NACC) opinion on the scheme, Commerce Minister Phumtham Wechayachai said today. The secretary general of the Council of State, Pakorn Nilprapunt, had suggested that the Digital Wallet Committee should also get feedback from the NACC, as well as that
The Bank of Thailand has defended the recent decision by the Monetary Policy Committee to maintain the policy rate at 2.50%, claiming that the decision was based on the principle that the policy rate must not pose an obstacle to economic growth, not affect financial stability or inflationary framework in the Thai economic context. The
Commerce Minister Phumtham Wechayachai will lead a trade delegation to the United States from January 17th to 22nd, in an attempt to expand the US market for Thai products. During the visit, Phumtham said his delegation will meet with major US importers of Thai rice, who import about US$52 million worth of Thai rice each
The number of people using the two extensions of BTS Green Line train service has dropped by about 20.5%, from 340,000 to 270,000 a day, since the Bangkok Metropolitan Administration (BMA) started collecting fares on January 2nd. According to a well-informed source in the BMA, about 250,000 passengers used the Mor Chit-Khu Khot extension and
The Ministry of Interior, via the Provincial Administration Department, will begin nationwide informal debt mediations, as part of the “debt solving market place” program, at provincial halls and municipal offices on Monday. Kittiratt Na-Ranong, chief advisor to the prime minister, will preside over the program launch ceremony, at the Nakhon Nonthaburi municipal office, tomorrow morning,
Energy Regulatory Commission (ERC) has set the fuel tariff (FT) surcharge on electricity, for the January through April period, at 39.72 satang per unit and the electricity unit price at 4.18 baht, after adjusting the formula for the calculation of natural gas and electricity prices. Komkrit Tantravanich, secretary-general of the office of the ERC, said
Prime Minister Srettha Thavisin has floated the idea of weekly meeting with Bank of Thailand Governor Sethaput Suthiwartnarueput, after both of them met at Government House yesterday to discuss the general economic situation, inflation, interest rates and the “digital wallet” scheme. Earlier this week, the prime minister expressed disagreement with the central bank’s increase of
