Our Standards: The Thomson Reuters Trust Principles. Based on data from the Public Health Ministry, the central bank expects coronavirus infections in Thailand to come under control in the second quarter, around April, but a turnaround for tourism will take time. In the first quarter of this year, Thailand may see economic growth of below 1.0 per cent. In July 2020, the Thai economy continued to improve, driven by public spending and the relaxation of lockdown measures both in Thailand and abroad. Thailand: Central Bank rate maintained at record low in September. Phacharaphot Nuntramas, an economist with Krung Thai Bank who predicts a contraction of 8.8% this year, said, “It’s a surprise that their outlook was better this year. Thank you for subscribing our enewsletter. Media Expertise International (Thailand) Co., Ltd. Thailand’s financial system more vulnerable, says BoT, Thai household debt could rise beyond 80 percent of GDP, Bangkok Correspondent for Siam News Network. Read more about cookies here. While the bank raised its 2020 GDP forecast, it still expects the economy to shrink by a record 7.8% in 2020 versus a previous forecast for an 8.1% contraction. Foreign tourist numbers are forecast at 6.7 million this year, down from a projected 8 million, and at 9 million next year. Media Expertise International(Thailand) Co., Ltd. 194 Soi Pridi Banomyong 46 (Soi Chit Wari) Sukhumvit 71 Rd. Foreign tourist numbers are forecast at 6.7 million this year, down from a projected 8 million, and at 9 million next year. By subscribing, you accept the terms and conditions in our, ©2020 Bangkok Post Public Company Limited. Enter your email address to subscribe and receive notifications of new posts by email. HANOI: Vietnam has arrested a prominent blogger and dissident for "anti-state activities" hours after its government held annual talks on human rights with the United States, sources and international human rights groups said on Wednesday. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. The Bank of Thailand (BOT) kept its policy rate steady, as widely expected, and downgraded its 2020 GDP forecast to a contraction of 8.1% from a 5.3% decline projected in March. Unauthorized distribution, transmission or republication strictly prohibited. Targeted measures designed to address liquidity needs are crucial. Powered by vloss.net. BANGKOK (Reuters) -- Thailand's central bank expects the economy to contract by the sharpest rate on record this year but kept its policy rate steady on Wednesday, as businesses gradually reopen from a lockdown that has hit jobs and consumption. The BOT forecast exports would fall 8.2% this year before rising 4.5% next year. We don’t know what signs the BOT saw.”. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. While the bank raised its 2020 GDP forecast, it still expects the economy to shrink by a record 7.8% in 2020 versus a previous forecast for an 8.1% contraction. The Bank of Thailand in its latest Monetary Policy Meeting, pencilled a GDP contraction of 7.8% in 2020, up from a prior forecast of -8.1%. Editor at Thailand Business News, ASEAN’s Healthcare Sector: New Opportunities After COVID-19. Comments may take up to an hour for moderation before appearing on the site. The bank said private consumption and investment were likely to improve, but it expected a record contraction in gross domestic product this year, with the economy taking at least two years to return to pre-pandemic levels as the key tourism industry reels from a ban on foreign visitors. The bank forecasts 2021 GDP growth of 3%, he said. The bank said 2020 headline inflation will be minus 0.9%, versus a target range of 1%-3%. Don Nakornthab, senior director of the BOT’s Economic and Policy Department, expressed the view that the COVID-19 outbreak could see Bt250 billion being wiped from Thailand’s revenue from the tourism sector, based on the Ministry of Tourism and Sports’ estimate of a drop of 5 million foreign tourists to Thailand.

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