Economy and commerce
Central bank issues debt relief measure to slash Thais’ interest burden
The Bank of Thailand on Thursday issued a new debt relief measure aimed at reducing Thais’ interest rate burden from 16-25 per cent to 5.5-8.8 per cent.The debt consolidation measure will allow borrowers to bundle their credit card, personal and mortgage loans into one sum, ...
The Nation Reporter
Finance minister: Economic fundamentals still solid amid pandemic
Thailand’s economic fundamentals and fiscal position remain strong in the face of the pandemic-induced recession and the “worst is behind us”, new Finance Minister Predee Daochai said on Wednesday.Southeast Asia’s second-largest economy shrank 12.2% in the second quarter from a year earlier, the sharpest drop ...
Commerce Ministry eyes Asian top-five trade ranking
The Commerce Ministry has set a goal to raise Thailand’s international trade value to Asia’s top five by 2027, up from eighth in 2019, by focusing on value-added industries such as digital, food and healthcare.To achieve the goal, Thailand would need to fetch at least ...
Phusadee Arunmas
Exports drop, but show signs of recovery
Exports were again in negative territory last month but the figures still bolstered confidence at the Commerce Ministry that the worst of the slump might be over.The ministry reported on Monday that exports in July contracted 11.37% year-on-year to US$18.8 billion as the coronavirus pandemic ...
Bangkok Post Reporter
SSO joins banks in providing low-interest loans to small businesses
The Social Security Office (SSO) is cooperating with financial institutions to earmark Bt30 billion to provide low-interest loans to small businesses so they can continue employing their workforce, Labour Minister Suchart Chomklin said on Tuesday (August 18).He explained that the government prioritised economic recovery under ...
The Nation Reporter
NESDC slashes forecast
The government’s planning unit on Monday downgraded the economic outlook for the whole year to a 7.3%-7.8% contraction from an earlier forecast of 5%-6%, after it reported the economy contracted the most in 22 years in the second quarter.The National Economic and Social Development Council ...
Bangkok Post Reporter
Cross-border trade drops by over 9% in first half
Thailand’s cross-border trade fell by 9.18% year-on-year in the first half, attributed to lockdown measures and the slowing economies of neighbouring countries.The Foreign Trade Department reported overall cross-border trade, including transit trade, totalled 627 billion baht for January to June, with Malaysia the biggest partner ...
Phusadee Arunmas
Trade department to push for RCEP signing in October
The Department of Trade Negotiations will urge the Cabinet in October to consider signing the Regional Comprehensive Economic Partnership (RCEP) pact, the department’s director general Auramon Supthaweethum said.She added that the vetting of all 20 chapters of the accord had been completed and that it ...
The Nation Reporter
Confidence down as political tension flares
Stock investors’ confidence for the three months to October remains in neutral territory as concerns over heightening domestic political tension and the economic slowdown drag down optimism.The investor confidence index (ICI) fell 16% to 85.3 from June’s 101.2, according to the monthly survey by the ...
Bangkok Post Reporter
Poll suggests need for better strategy
Thailand is being urged to fine-tune its development strategy and rejig incentives to focus on promoting the nation as a production hub for health products like rubber gloves, supplements and medical devices in the wake of the coronavirus crisis.Aat Pisanwanich, director of the Center for ...
Phusadee Arunmas
