Thailand has introduced measures that include a liquidity support fund worth 70-100 billion THB (2.2-3.2 billion USD) to reduce riska in the debt market amid the spread of the COVID-19 outbreak.
The Bank of Thailand (BoT) has further cut its basic interest rate by 25 percentage point to the record low of 0.75 percent in an effort to buffer impact on the economy.
Thailand’s tourism officials on February 14 proposed visa-free entry for Chinese citizens to revive tourism, following a forecast by the Bank of Thailand (BoT) that the new coronavirus (COVID-19) outbreak may drag down the Thai economic growth to below 2 percent.
The financial market in 2020 will become much more unpredictable and less active than the predictions made at the end of 2019 due to impact caused by the 2019 novel coronavirus (2019-nCoV) epidemic, according to a financial analyst.
Speaker of Thai House of Representatives Chuan Leekpai has called for the House’s special session on February 13 to repeat the second and third readings of the 2020 budget bill to comply with a Constitutional Court ruling.
The Bank of Thailand (BoT) slashed its basic interest rate to a record low of 1 percent in an effort to shore up the economy which is hit by the novel coronavirus (nCoV) epidemic and the months-long delay in the fiscal 2020 budget bill.
Thailand’s economy this year is forecast to see the weakest pace of growth in five years due to impact from global trade tensions and rising domestic currency.
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.
The Federation of Thai Industries (FTI) and the Bank of Thailand (BoT) have agreed to launch new measures for Thai small and medium-sized enterprises (SMEs) to encourage them to expand overseas.
Thai Minister of Tourism and Sports Phiphat Ratchakitprakarn has said the ministry is pushing for cuts in tariffs on branded products to foster tourism sector – a key economic sector of the county.
Thailand’s GDP growth forecast for 2020 has been set at 2.5-3 percent by Kasikorn Research Centre (K-Research) as compared to 2.8 percent growth seen this year.
Thailand’s economy expanded at the slowest pace in almost five years in the second quarter of 2019 as exports and tourism deteriorated due to impacts from the US-China trade war and the strong baht.
The depreciation of the Chinese currency, the yuan, will affect the baht of Thailand and export values of the country for the rest of the year, which will force the Bank of Thailand (BoT) to come up with measures to manage the Thai currency, according to economists.
Prime Minister Nguyen Xuan Phuc expressed his hope for stronger ties between the Vietnamese and Thai banking systems while receiving Governor of the Bank of Thailand (BoT) Veerathai Santiprabhob in Hanoi on August 5.
The Bank of Thailand (BoT) on May 8 held its benchmark interest rate unchanged for a third straight meeting, as widely expected, saying monetary policy remained accommodative while risks to financial stability remained.
Governor of the Bank of Thailand (BoT) Veerathai Santiprabhob has raised concerns about economic impact of a possible delay in the formation of a new government.
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