Economy and industry
Thai business group sticks by GDP outlook despite inflation risk
Thailand’s economy is still expected to grow 2.75 per cent to 3.5 per cent this year, helped by increased exports, more tourists, and government support, but faces rising inflationary pressures, a leading joint business group said on Wednesday (Aug 3).Exports are expected to increase 6 ...
Banks expected to delay rate hike
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) believes the banking sector will delay raising the interest rate in line with the Bank of Thailand’s anticipated gradual policy rate hike.Under the policy rate hike trend in the second half of this year, banks ...
Bangkok Post Reporter
IoT tech to collect real-time weather data
The Meteorological Department is gearing up to adopt Internet of Things (IoT) devices to collect weather-related data which can be reported in real time, and work with the telecom regulator to send weather warnings to people via SMS messages.The agency, under the Digital Economy and ...
Bangkok Post Reporter
Thailand's economy to improve further on consumption, tourism
Thailand’s economy improved in June and the momentum is expected to continue into the second half of 2022 thanks to increased tourism and domestic consumption as pandemic curbs eased.The Bank of Thailand (BoT)’s Senior Director Chayawadee Chai-Anant said the tourism sector will play an important ...
Global issues and inflation put a damper on Thai economic recovery
The Thai economy is entering a “parallel universe” marked by deglobalisation, geopolitical conflict, high inflation, and rising interest rates, KKP Research said on Wednesday.KKP Research chief economist Pipat Luengnaruemitchai said these factors are a challenge to the global and Thai economies both in the short ...
The Nation Reporter
Global economy to hit Thai tourism
The Tourism Authority of Thailand (TAT) forecasts revenue of 1.2-2.38 trillion baht next year, according to its new 2023 strategy, but this is likely to be challenged by global inflation and rising interest rates, with spending already taking a hit.TAT governor Yuthasak Supasorn said the ...
Bangkok Post Reporter
BoT can't afford to hold interest rates
Like all countries in the world, the Bank of Thailand (and Monetary Policy Committee, or MPC) believes they can run monetary policy independently based on local economic conditions.That belief is hard to fathom in today’s liquid international capital market where money can move from one ...
Bangkok Post Reporter
SMEs call for suspension of planned fuel tariff increase
The Federation of Thai SMEs is asking the government to delay an increase in the fuel tariff (Ft) scheduled for September as they struggle to stay afloat amid mounting economic problems.The Ft, which is determined by fuel costs, is expected to rise as the Russia-Ukraine ...
Bangkok Post Reporter
Thailand calls for businesses’ cooperation to stabilise product prices
The Thai Commerce Ministry has called for continued cooperation from manufacturers to maintain product prices as long as possible in order to curb the negative impact on consumers.This move came after manufacturers proposed to increase the prices of their products to cope with higher production ...
Cabinet extends diesel excise cut
The Cabinet has approved a two-month extension of the reduced excise duty for diesel to help mitigate the impact of the fuel price crisis.Continue watching ...
