Bangkok (VNA) – Thailand’s econom💫y will grow at a rate of less than three percent this year, according to the country’s financial experts.
They also warned that the baht value will continue going down, reaching the level of 37 baht to the US dollar by the end of the year.
According to Kobsit Silpachai of Kasikorn Bank, Thailand’s economy in the third and fourth quarter of 2016 will expand by less than three percent due to the effects from the slowdown of China’s economy and the decline in global trade.
Kobsit warned that Thailand’s exports will stay flat this year.
He said the upcoming UK’s referendum on whether it should leave or remain in the European Union will bring short-term risks to Thailand’s economy and the US Federal Reserve’s prospect of raising interest rate may cause capital to flow out of Thailand.
Kawee Chukitkasem, vice chairman of the Kasikorn Securities Company, was also of the view that the referendum will have a short-term influence on Thailand’s stock market.
The latest economic data from the National Economic and Social Development Board showed Thailand’s economy grew 3.2 percent in the first quarter, the highest level for the past three years.-VNA
Thailand’s gross domestic product (GDP) will grow by 3.1 percent this year, lower than the earlier projected growth of 3.2 percent this year and 4.2 percent next year.
Japanese businesses are still confident of making investments in Thailand as they believe that the country will play a very prominent role in the region once the ASEAN Economic Community takes shape.
Thailand’s economy grew faster in the third quarter of 2015 than previous forecasts thanks to the government’s economic stimulus package and higher-than-expected number of inbound tourists.
Thailand, one of the ten countries with the strongest competitiveness in Southeast Asia, is ready for both opportunities and challenges from the ASEAN Economic Community, a Thai official has said.
The Thai economy might grow an extra 0.77 percent annually if the country becomes a member of the Trans-Pacific Partnership (TPP) deal, said the local Ministry of Commerce.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Piles of Thai currency (Source:Telegraph.com)
