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Tag Archives | Economics

Finance Ministry proposes another Bt100b

The Finance Ministry will propose that cabinet ministers approve another Bt100b in projects under the “Thailand: Investing from Strength to Strength”investment programme later this month. The new projects would ensure at least Bt300b in funds under the public investment programme enter the economy in 2009 and 2010, said Sathit Limpongpan, the ministry’s permanent secretary. About Bt30b of these funds […]

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IMF foresees 3% GDP dip in Thailand

Thailand’s economic contraction this year will be limited to 3% as the government increases spending to counter falling exports, the International Monetary Fund said yesterday. The government’s budget deficit is expected to widen to 4.5% of gross domestic product in the current fiscal year ending Sept 30 from 0.5% in the previous year, the Washington-based […]

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Property tax to cabinet next week

The Finance Ministry’s Fiscal Policy Office will propose the property-tax law to the Cabinet again next month, after consideration was postponed this week. The office’s director-general Somchai Sujjapongse, at a seminar organised yesterday by the Thai Real Estate Association, Thai Condominium Association and Business Housing Association, said the law would help boost the income of […]

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Government urged to weaken Baht

Depreciating the value of Thai baht, as proposed by Bank of Thailand (BoT) chairman Chatumongol Sonakul, would boost export revenue in the tourism and agricultural sectors, Fiscal Policy Research Institute adviser Olarn Chaipravat said on Wednesday. Speaking at a seminar on Thailand’s macro-economy, former deputy prime minister Olarn said the central bank was able to keep the Baht at […]

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Industrial index hits 19-month high

The Thai Industries Sentiment Index (TISI) hit a 19-month high in July mainly because of increasing purchase orders and sales together with higher productivity and profitability, the Federation of Thai Industries (FTI) reported on Tuesday. A figure above 100 means that confidence remains good. The TISI rose from 83.5 points in June to 89.9 points in July, thanks to […]

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Businessmen dampen recovery hopes

Business leaders have warned local companies against excessive optimism from improving global and Thai economic indicators, as uncertainties remain while some key sectors have yet to improve. In the worst case, Thai gross domestic product in the fourth quarter may see no increase from last year and global recovery is still uncertain, said Pramon Sutivong, former chairman of […]

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Restocking driving loan needs for working capital

Improving demand for working-capital loans is being driven by both seasonal factors as well as businesses moving to rebuild inventories, according to local bankers. Chansak Fuangfu, a senior executive vice-president of Bangkok Bank, said demand for working capital had been rising steadily, particularly for companies in the manufacturing and agricultural sectors.

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Exporters renew plea for greater loan access

Thailand’s exports still have a chance to contract by a modest 5-10% if the government rapidly extends loans to ease liquidity problems for local industries and exporters, according to the Thai Chamber of Commerce. “The most effective stimulus measure to improve exports right now is accelerating loan extensions,” said Pornsil Patchrintanakul, the deputy secretary-general of the chamber. “Tight liquidity […]

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