Economy and commerce
Household debt continues to increase, nears 15 trillion baht
Thailand’s household debt reached 14.9 trillion baht in the fourth quarter of last year, as bad debts doubled due to the Covid-19 crisis, according to the National Economic and Social Development Council (NESDC).Household debt increased by 3.9% in the fourth quarter, compared to 3.5% in ...
The Nation Reporter
Consumer products likely to cost more despite cut in diesel price
The move by the Oil Fuel Fund Office to approve a reduction in the retail price of diesel by 50 satang per litre from Wednesday is unlikely to deter consumer goods makers from hiking prices.President of the Thai Wholesale and Retail Trade Association, Somchai Pornratanacharoen, ...
The Nation Reporter
Thai Q4 GDP unexpectedly falls, 2023 outlook trimmed
Thailand’s economy unexpectedly contracted in the final quarter of 2022 as a rebound in the vital tourism sector was unable to offset falls in key sectors including exports and manufacturing.The planning agency responded by downgrading its outlook for this year.Keep reading ...
Economic growth slowed in tourism-reliant Thailand in Q4
Thailand’s economic growth slowed in the fourth quarter as reduced exports and factory activity, together with tightening monetary conditions, curbed private consumption, a Reuters poll of economists found.Growth in Southeast Asia’s second-largest economy was forecast at 3.5% year-on-year in the October-December period, down from 4.5% ...
Thai c.bank wants to see household debt below 80% of GDP
Thailand’s central bank said it wants to see household debt levels below 80% of gross domestic product (GDP) to help reduce economic and financial risks, an official said on Tuesday.But measures introduced so far and a recovery in the economy might not be enough to ...
Thailand’s new strategies to attract foreign investors unveiled
The Thai Board of Investment (BoI) on February 14 unveiled its strategies to attract foreign investors over the next three to five years.BoI Secretary-General Narit Therdsteerasukdi said the board’s strategies are in line with the country’s long-term socio-economic development plans and they support manufacturing and ...
Inflation slowing, no need for big rate hikes - central bank
Thailand’s inflation will likely slow down this year and there is no need for the central bank to raise interest rates aggressively like other countries, Bank of Thailand (BoT) deputy governor Mathee Supapongse said on Wednesday. Policy normalisation will be gradual and will not affect the ...
Bangkok Post Reporter
Thai consumer confidence at 25-month high in Dec as tourism recovers
Thai consumer confidence rose for a seventh straight month in December, reaching a 25-month high, boosted by improved economic activity and higher foreign tourist arrivals, a survey showed on Thursday.The consumer index of the University of the Thai Chamber of Commerce rose to 49.7 in ...
Thai central bank expects virtual banks to start operations in 2025
Thailand’s central bank expects virtual banks to begin operating in the second quarter of 2025, it said in a statement on Thursday.The Bank of Thailand said it plans to propose giving licences to three operators for virtual banks, but may open this up for additional ...
Signs of economic slowdown alarming
The Thai government, businesses, and citizens are cherishing the news of returning Chinese tourists with the first group of 286 passengers who arrived on Monday. The Tourism Authority of Thailand estimates that 5 million Chinese tourists will visit our country this year, bringing with them ...
