The Bank of Thailand (BoT) lowered the country’s economic growth forecast to 2.5 percent in 2019 and 2.8 percent in the next year due to heightened external risks.
People buy food at a market in Bangkok (Photo: AFP/VNA)
Bangkok (VNA) - The Bank of Thailand (BoT) lowered the country’s economicgrowth forecast to 2.5 percent in 2019 and 2.8 percent in the next year due toheightened external risks.
The BoT trimmed its 2019 GDP growth forecast to 2.5 percent from 2.8 percentestimated in September and lowered its 2020 growth outlook to 2.8 percent from3.3 percent on heightened external risks. Last year's growth was 4.1 percent, reportedthe Bangkok Post.
Exports, a key driver of economic growth, are now expected to shrink 3.3percent this year, compared with a 1 percent fall seen earlier. Next year'sexports are expected to rise by a smaller 0.5 percent, rather than 1.7 percent.
The Thai economy would expand below its potential and below the previousforecast, mainly as merchandise exports had contracted more than the previousassessment and were projected to recover more slowly than expected, accordingto the central bank’s a statement.
The MPC committee said in a statement the current policy rate remainsaccommodative for growth and supports prices moving toward the central bank'starget - currently 1-4 percent.
The central bank cut its forecasts for headline inflation in 2019 to 0.7percent from 0.8 percent previously, and to 0.8 percent from 1.0 percent for2020.
The BoT also expressed concern about the strength of the baht, Asia's bestperforming currency this year, which has risen around 7.6 percent against theUS dollar, putting further pressure on already weak exports./.
Thailand’s Ministry of Commerce plans to cooperate with the private sector to promote trade in 16 countries to boost export growth in 2020, according to a local official.
The Thai government has announced a plan to construct a new airport in Nakhon Pathom to alleviate congestion at Bangkok’s Suvarnabhumi and Don Muang airports and serve western Bangkok population.
The Tourism Authority of Thailand (TAT) is planning to host New Year’s Eve events in emerging destinations, aiming to generate 23.8 billion baht (786.7 million USD) in tourism income during the holiday season.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
People buy food at a market in Bangkok (Photo: AFP/VNA) 
