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)

Thailand’s economic challenge: short-term relief vs long-term structural woes

The 5:2 vote by the Thai central bank’s Monetary Policy Committee (MPC) to hold the key policy rate at 2.50 per cent is a hint of an impending rate cut at…

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The price of love: Valentine’s Day spending to reach more than 2.5 billion baht in 2024

Valentine’s Day is expected to cost consumers more this year as inflation remains sticky. Yet despite the economic doldrums, they are planning to celebrate the official day of love with…

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From left : Bank of Thailand governor Sethaput Suthiwartnarueput and PM Srettha Thavisin

Government and Thai central bank at odds over economic management

Against the backdrop of a bumpy economic recovery, the government and the central bank don’t seem to be seeing eye to eye over monetary policy. Recently, in a post on…

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China sees one of its worst years of growth since 1990 as recovery stalls

China’s economy last year grew at one of its slowest rates in more than three decades, official figures showed Wednesday, as it was battered by a crippling property crisis, sluggish…

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Will tax breaks help the Thai economy change gear?

The government has launched tax breaks to encourage consumer spending this year, in a bid to stimulate the economy. But will it work and who is going to benefit? From…

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Keeping economic activities open while whittling down the number of COVID-19 cases will be a major task before the authorities in 2022. (Photo by Dan Freeman)

Thai economy navigating a maze of challenges

The government recently sent a letter to the Council of State, its legal advisor, seeking its opinion on the proposed 500-billion-baht borrowing plan to fund the digital wallet scheme. The…

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Subsidy approved to discourage sugarcane farmers from burning canes

The Cabinet decided today to grant 120 baht in subsidy for each tonne of cut raw sugarcane, as an incentive to discourage farmers from burning the cane to facilitate harvesting,…

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Energy Minister Pirapan Salirathavibhaga

Existing oil price structure unfair to consumers – Energy Minister

Energy Minister Pirapan Salirathavibhaga said today that the retail oil price structure, which has been in force for about three decades, needs to be overhauled because it is unfair to…

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Pornchai Thiraveja, director-general of Fiscal Policy Office, Finance Ministry

Fiscal Policy Office cuts 2023 economic growth projection to 2.7%

The Finance Ministry’s Fiscal Policy Office has decided to reduce its Thai economic growth forecast for 2023, from 3.5% to 2.7%, due to the tourism slowdown and export contraction. Pornchai…

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Thailand’s economy needs a major boost : PM

Thailand’s under-performing economy needs to be given a major boost, to increase its growth rate and pull the country out of the middle-income trap, while improving the livelihoods of people…

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Leveraging postage stamps as a soft power to boost the economy

For the past several years, postal service providers around the world have faced new challenges as digitalization has taken hold, a situation that significantly accelerated during the Covid-19 pandemic. The…

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Israel-Hamas war will have greater impacts than war in Ukraine – Thai scholar

The effects of an escalating war between Israel and Hamas will be much more serious and extensive than the ongoing war in Ukraine, due to potential involvement of western and…

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Thai economists worry about effect of Israeli-Hamas conflict on oil price

Thai economists have expressed concern that an escalation of the Israeli-Palestinian conflict will impact global oil prices and may push crude oil up to US$95 per barrel, which will further…

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Sanan Angubolkul, chairman of the Thai Chamber of Commerce and Board of Trade

Thai private sector urges govt to reach FTAs with more countries

Thai private business operators are urging the government to speed up the finalisation of free trade agreements (FTA) with more countries to boost Thai exports, which fell for ten straight…

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Debt moratorium policy an exercise in futility?

At the first meeting of the Cabinet on September 13, the new government announced a debt moratorium policy for farmers and small businesses. It was a common refrain of many…

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Photo : Thai Government House

It’s time for US to do more business in Thailand : Thai PM

This Thai government’s top priority is to re-energise Thailand’s competitiveness and position as a leading investment destination, an engine of growth in the region and as a place where people…

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Move Forward’s deputy leader Sirikanya Tansakul

Move Forward accuses Srettha government of overspending

Move Forward party deputy leader Sirikanya Tansakul has accused the government of overspending by resorting to borrowing an additional 130 billion baht to partially fund the 560 billion baht digital…

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Cabinet agrees to keep VAT at 7% for another year

The Cabinet decided today (Wednesday) to retain the 7% value-added tax (VAT) rate on goods and services until September 30, 2024, to stimulate economic recovery through spending on consumer products…

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Srettha meets airlines about boosting tourist arrivals by year end

Prime Minister-elect Srettha Thavisin held talks with representatives of eight airlines, Airports of Thailand (AoT) and the Civil Aviation Authority of Thailand (CAAT) today (Monday), seeking cooperation to boost tourist…

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Policies to increase income critical to tackle high household debt

Economic experts are not happy with the policies pursued by the outgoing administration to increase the income of Thai households, as well as the proposals of the parties who could…

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Fears of further depreciation after Myanmar’s new 20,000 Kyat note announcement

The pubic in Myanmar are worried that the Kyat is further depreciating, after the announcement that a new 20,000 Kyat bank note denomination will be printed, though Myanmar’s Central Bank…

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House and condo prices in greater Bangkok rise in past two quarters

The prices of new houses and condominium units in and around Bangkok have steadily been risen in the past two quarters of the year, due to higher land prices, increasing…

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Household debt rose to an average of 559,408 baht this year

Household debt in Thailand has climbed to an average of 559,408 baht per household, an increase of 11% compared to last year, due to slow economic recovery, the COVID19 pandemic,…

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Thai exports fall nine months in a row, may rebound before year end

Thailand’s exports have contracted for nine months in a row, but are expected to rebound during the second half of this year, with export growth of 1-2% for the whole…

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What Pheu Thai’s policies mean for the people and the economy

The Pheu Thai Party’s economic platform is back in focus now that it has been tasked with the responsibility of forming the next government. Pheu Thai, which has the second…

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IMF nudges up 2023 economic outlook but warns of slowing global growth ahead

The International Monetary Fund has slightly upgraded its outlook for global growth this year on the back of resilient service sector activity in the first quarter and a strong labor…

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Thailand’s tourism deficit with Japan

For the first time since reliable records have been kept, Thailand is experiencing a tourism deficit with Japan, according to statistics for the first 6 months of 2023, revealed the…

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Thailand’s household-debt storm taking deadly toll on guarantors

Thailand’s household debt has ballooned to almost 16 trillion baht, with more and more Thais at risk of defaulting on their loan repayments. The pressure then falls on guarantors, who…

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Thais are sinking deeply into debt

Thai people are burdened with high household debt. For many of them, the burden starts early and can last a lifetime. Some young adults, in particular, have racked up massive credit…

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ADB cuts inflation forecast for developing Asia

The Asian Development Bank cut its inflation forecast for developing Asia on Wednesday, as food and fuel prices eased, supply chain disruptions waned and interest rate hikes started to bite….

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Indian tourists flock to Southeast Asia as China’s reopening falters

Indian tourists are streaming into Southeast Asia, cementing the world most populous country’s position as a key growth market for a travel and tourism sector that is feeling the pinch…

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Thailand given BBB+ credit rating with stable outlook by Fitch

Fitch credit rating agency has affirmed Thailand’s long-germ foreign-currency issuer default rating (IDR) at BBB+, with a stable outlook. Fitch warns, however, that lingering political uncertainty may weigh on Thailand’s…

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Return of foreign buyers helping property sector to grow

Foreign buyers will fuel growth in Thailand’s property market during the second half of this year but domestic buyers have not fully regained their purchasing power due to unfavourable factors,…

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Vietnam’s power crisis hits local firms, foreign investors

An intensely hot summer and unprecedented drought are straining energy supplies in northern Vietnam, prompting rolling blackouts and sudden power outages that have led to “uncountable” losses among local firms…

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Redefines domestic MICE to boost economy

The domestic MICE (Meeting, Incentive, Convention, Exhibition and Event) industry has long played a major role in helping the travel industry and stimulating the economy when international demand has significantly…

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Egg prices steady rising due to supply shortage and higher production costs

Egg prices in Thailand are steadily climbing and have been adjusted five times between January last year and May this year, due mainly to increased production costs and unusually hot…

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Is Move Forward Party’s policy platform giving the markets the jitters?

Policy proposals to tackle monopoly and market dominance outlined by the new coalition expected to form the next government appears to have been given the cold shoulder by the stock…

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Zero-based budgeting can’t tide over challenge of increasing revenue 

The Move Forward Party, the leader of the coalition tipped to form the next government after the May 14 election, has proposed using zero-based budgeting (ZBB) to replace the current…

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Residential market slows, new stimulus packages awaited

Despite slowing inflation, the residential market in the first few months of 2023 has been sluggish, the real estate sector reports. Overall, the housing demand in Thailand has dropped and…

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The high cost of the promises made by major parties to woo the electorate

Amid the strong likelihood of the next government being formed by a coalition led by the Move Forward Party, the biggest gainer in the May 14 general election with 152…

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China’s falling birth rate pushes baby product firms to diversify

With fewer babies than ever being born in China, companies making children’s products are setting their sights beyond milk bottles, baby carriers and strollers to stay in business. “We now…

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Gearing up for the grey: How an aging population is creating new business opportunities

The world’s population is getting older. And Thailand is among the fastest-aging societies in the world. Of its 67 million population, more than 12 million Thais are elderly, according to…

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Asia Pacific’s tourism industry to surpass pre-pandemic peak in 2025

Travel experiences in Asia Pacific have returned to rapid growth since the region reopened borders for regional and long-haul travel. However, the industry – especially tour activities and attractions –…

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Singapore to post slower economic growth this year

Singapore is expected to post slower economic growth this year but it “should avoid an outright contraction”, Prime Minister Lee Hsien Loong said Sunday. The Southeast Asian city-state’s economic performance…

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Are political parties shortchanging the economy with populist platforms?   

The latest populist promise by the Pheu Thai Party of digital currency handouts has stirred a hot debate on the policy platforms of parties contesting the May 14 general election….

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World food prices down by a fifth on 2022: UN

World food prices are still high but have fallen by a fifth compared to a year ago when prices soared to a monthly record high after Russia invaded agricultural powerhouse…

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ADB says developing Asia’s growth to accelerate after China reopening

The Asian Development Bank raised its 2023 growth forecast for developing Asia on Tuesday, after China’s abrupt loosening of Covid-19 restrictions and reopening of its borders brightened the region’s prospects….

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Is Thailand really immune to the banking turmoil in the US and Europe?

The global financial markets are highly interconnected. When Thailand’s banking system suffered a collapse and the baht’s value plummeted in 1997, the contagion effect spread to other Asian countries. Similarly,…

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Biden’s test: Can he show competence to avert banking chaos?

In 2016, Vice President Joe Biden warned against efforts to unravel banking regulations that Democrats had fought to implement following the nation’s financial crisis, just as the emerging Trump administration…

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People look at signs posted outside of an entrance to Silicon Valley Bank in Santa Clara, Calif., Friday, March 10, 2023. (Photo by Jeff Chiu/AP)

From wine country to London, bank’s failure shakes worldwide

It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world. From winemakers in California to startups across the Atlantic Ocean, companies are scrambling to figure out…

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Political parties face tough balancing act in labour market 

The latest statistics show an overall improvement in Thailand’s labor market, nearly returning to the pre-COVID level, but questions remain about the availability of well-paying jobs. Unemployment fell to 1.15…

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Political parties can no longer evade household debt crisis facing Thailand

Household debt has become an alarming issue for the country, and as Thailand heads towards a general election this year, it’s a ticking bomb that needs the urgent attention of…

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Global conditions arrest Thailand’s economic recovery  

Thailand’s economic growth in the fourth quarter of last year has disappointed many people. Real gross domestic product (GDP), a broader measure of economic output, grew just 1.4 percent year on year,…

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The art of raising taxes without incurring the public wrath

It is common sense for politicians to campaign on a platform of tax cuts in the run-up to an election, as opposed to making a case for tax hikes, which…

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Proposal to erase borrowers’ repayment records is fraught with danger

As the general election approaches, rival political parties have unveiled their policy pledges designed to lure voters. Parties usually make promises that could make an immediate impact, without taking into…

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House keeping staff may have to develop additional skills. (Photo by Andrea Piacquadio on pexel.com)

Hotels struggle to attract quality staff as tourism recovers

Working in a hotel used to be considered an attractive career as not only was the job itself interesting but the monthly salary was relatively decent and there were other…

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Shadow of uncertainty over budget for fiscal year 2024 as election looms

The Cabinet recently approved a framework for government spending in fiscal year 2024 with planned expenditure of 3.35 trillion baht, up 5.18 percent from the current fiscal year. The spending is equal…

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This photo taken on January 13, 2023 shows an aerial view of cranes and shipping containers at Lianyungang port in China’s eastern Jiangsu province. (Photo by AFP)

China’s 2022 growth seen as its lowest in 40 years

China’s economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, analysts said ahead of…

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Thailand’s economy in 2023 could pose multiple challenges to government and central bank

Thailand’s gross domestic product (GDP) will expand by around 3-4 percent this year, only slightly higher than last year’s 3.2 percent, the National Economic and Social Development Council, a state…

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The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(Photo by Julia Nikhinson AP)

World Bank: Recession a looming threat for global economy

The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China, the…

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Can Thailand afford to raise minimum wage to 600 baht?

The Pheu Thai Party has made a big election promise: if it becomes the ruling party next year, Thailand’s minimum daily wage will rise to 600 baht by 2027. The…

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Prospect of new government after elections gets economy humming again

Thailand’s stock market has been vibrant since the Constitutional Court gave the green light to new electoral bills that are likely to benefit bigger parties. Stock analysts viewed the passing…

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This photo taken on October 14, 2022 shows vessels carrying coal near Pha Lai thermal power plant in Hai Duong province. (Photo by AFP)

Vietnam struggles to break one of world’s biggest coal addictions

(AFP) – Despite Vietnam’s solar boom and ambitious climate targets, the fast-growing economy is struggling to quit dirty energy — leaving one of the world’s biggest coal power programmes largely…

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This aerial picture shows a row of housing units (bottom) in downtown Jakarta on November 1, 2022. (Photo by BAY ISMOYO / AFP)

Indonesia Q3 growth rises but remains below forecasts

(AFP) – Indonesia’s economic growth accelerated in the third quarter of 2022 on the back of strong exports and domestic consumption, official data showed on Monday, but it remained below…

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New PM inherits UK economy in crisis

Britain’s new prime minister, set to be former finance minister Rishi Sunak, inherits a UK economy that was headed for recession even before the recent turmoil triggered by Liz Truss. Outgoing Prime Minister Truss resigned after her…

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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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Malaysia announces tighter 2023 budget as it warns of slowing growth

KUALA LUMPUR, Oct 7 (Reuters) – Malaysia on Friday unveiled a smaller budget for 2023, prioritising fiscal discipline over expectations of populist measures, as it warned of a slowdown in…

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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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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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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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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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Registration rush for co-payment scheme crashes “Pao Tang” app

The “Pao Tang” application system crashed this morning (Friday) as subscribers scrambled to reconfirm their registrations for the fifth phase of the 50:50 co-payment scheme, under which each will receive…

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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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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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Economy, COVID and recent Supreme Court decisions will be factors in US midterm vote

Experts say the economy, the COVID-19 pandemic and the recent controversial court decisions surrounding abortion and gun control could be factors that will influence voters in the US midterm elections…

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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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People wait behind a gate to visit the President’s house on the day after demonstrators entered the building, after President Gotabaya Rajapaksa fled, amid the country’s economic crisis, in Colombo, Sri Lanka July 10, 2022. REUTERS/Dinuka Liyanawatte

Sri Lanka to get new president next week amid political and economic meltdown

COLOMBO, July 11 (Reuters) – Sri Lanka‘s parliament will elect a new president on July 20, its speaker said on Monday, after protesters stormed the residences of the current president and prime minister, who have both offered to quit amid an economic meltdown….

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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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A matter of rice and death in Myanmar

Myanmar, a developing nation, relies heavily on exports of raw ingredients, of which agricultural exports make up nearly 10%. According to a recent Bloomberg report, Myanmar’s Rice Federation had set a…

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Thai business magnate and senior chairman of CP Group, Dhanin Chearavanont, arrives at the Wat Thepsirin Buddhist temple in Bangkok for the funeral ceremony of Leicester City’s Thai owner and duty-free mogul Vichai Srivaddhanaprabha on November 3, 2018. – Vichai, 60, and four other people died in a horrific helicopter accident moments after they departed the Leicester City’s pitch a week ago, bringing an abrupt end to the fairytale life of Thailand’s fifth-richest man. (Photo by Lillian SUWANRUMPHA / AFP)

Chiaravanont clan tops Forbes Thailand’s rich list again this year

This year’s 10 richest families in Thailand were revealed by Forbes Asia today (Thursday), most of the rankings remain unchanged from last year. The richest family in Thailand are still…

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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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Chinese Foreign Minister Wang Yi (left) and Thai Prime Minister Prayut Chan-o-cha (right). Photo: Thailand’s government

Thai PM, Chinese FM in talks on trade, investment and connectivity

Thai Prime Minister Prayut Chan-o-cha and Chinese Foreign Minister Wang Yi held discussions today (Tuesday) at Government House on trade, economic cooperation, investment and greater connectivity between the two countries,…

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Ray of Hope for Thai and Regional Traders

The COVID-19 pandemic has caused serious damage to economies around the world and even though the worst of the outbreaks appear to be over, countries are currently having to battle…

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Inflation poses biggest challenge to economic recovery

Low-income groups and small businesses are now getting squeezed by high inflation and potential interest rate hikes. The situation may make it necessary for the government to continue its support…

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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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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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This aerial photo taken on June 23, 2022 shows a flooded area after heavy rains in Yingde, Qingyuan city, in China’s southern Guangdong province. (Photo by AFP) / China OUT

What is causing record floods and heatwaves in China?

Record floods in southern China this month displaced more than half a million people, while searing heat buckled roads in other parts of the country. Authorities have issued extreme weather warnings…

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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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File photo of Sri Lanka’s Ranil Wickremesinghe (AP Photo/Eranga Jayawardena)

Sri Lanka PM says economy ‘has collapsed,’ unable to buy oil

COLOMBO (AP) — Sri Lanka’s prime minister says its debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, and the South Asian island nation cannot even…

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Phase 4 of ‘We Travel Together’ program extended until end of October

The Thai cabinet today (Tuesday) decided to extend Phase 4 of the “Rao Tiew Duay Kan” (We Travel Together) program until the end of October, because there was a residual…

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Should the BOT raise the policy rate and commercial banks by raising their lending and deposit rates, it would be a blow to borrowers, especially those with mortgage and car-hire purchase debt. (Photo by Jack TAYLOR / AFP)

How long can Thailand’s central bank swim against the tide?

The Bank of Thailand (BOT) has come under high pressure to react as domestic inflation has been climbing fast and other central banks, especially the US Federal Reserve (Fed), have…

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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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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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