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 […]
Tag Archives | Economics
Thailand slips to 36th in 2009 world rankings
September 9, 2009 in Thai Economy, Thai Industry News
Thailand has further lost its competitiveness in the global arena, ranking No36 in the World Economic Forum’s Global Competitiveness Report 2009-2010.
IMF foresees 3% GDP dip in Thailand
August 27, 2009 in Politics, Thai Economy
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 […]
Property tax to cabinet next week
August 27, 2009 in Property Development, Thai Economy, Thai Industry News
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 […]
Government urged to weaken Baht
August 27, 2009 in Politics, Thai Economy
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 […]
Full recovery could take six to 12 months
August 26, 2009 in Thai Economy, Thai Industry News
Full economic recovery will likely take six to 12 months, as government stimulus spending begins in earnest in the fourth quarter, says M.R. Chatumongol Sonakul,the chairman of the Bank of Thailand. He said exports had begun to improve with the global economy, but cautioned against hopes of a sharp turnaround.
Industrial index hits 19-month high
August 26, 2009 in Thai Economy
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 […]
Businessmen dampen recovery hopes
August 25, 2009 in Thai Economy, Thai Industry News
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 […]
Restocking driving loan needs for working capital
August 24, 2009 in Thai Economy, Thai Industry News
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.
Exporters renew plea for greater loan access
August 24, 2009 in Politics, Thai Economy
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 […]
