Tags : Growth

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Thailand lowers economic growth forecast for 2021

Thailand lowered its economic growth forecast for 2021, as the Southeast Asian country faces the most severe wave of COVID-19 in history. Last year, the Thai economy recorded the deepest contraction since the 1997 Asian financial crisis with a 6.1 percent decline. The National Economic and Social Development Council (NESDC) predicted that the economy would […]Read More

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Thailand lowers its economic growth forecast for the third time

Thailand’s Finance Ministry cut its economic growth forecast for 2021 to 1.3 percent from the previously forecast 2.3 percent, the third such revision this year, as the country battles its largest outbreak of COVID-19 to date. The latest wave of coronavirus has seen a spike in cases and deaths in July, leading to tighter containment […]Read More

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Political uncertainty weighs on Thai economic growth

Thai economic growth next year is unlikely to pass 4 percent as economists have recently revised the growth downward because the Thai exports are facing strong headwinds amid local political uncertainty. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) last week lowered the economic growth forecast for 2019 from 4.0-4.3 percent initially to […]Read More

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World Bank slashes GDP growth forecast for Thailand to 3

BANGKOK, 7 April 2014 (NNT) – The World Bank has cut Thailand’s GDP growth forecast this year from 4.5 percent to 3 percent. The World Bank’s new economic outlook report slashed its GDP growth forecast for the East Asian and Pacific regions to 7.1 percent, including a sharp downgrade for the Thai economy following months […]Read More

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Thailand becomes ‘Sick Man of Southeast Asia’

BANGKOK, March 26 – Thailand is now being branded as ‘the sick man of Southeast Asia’ given its low economic growth, unstable politics and lack of investors’ confidence, according to the University of the Thai Chamber of Commerce. Ath Pisalvanich, director of the university’s International Trade Studies Centre, said 480 out of 4,000 small- and […]Read More

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Government is confident economic growth this year will hit 7%

BANGKOK, Jan 7 – Deputy Prime Minister and Commerce Minister Kittirat Na Ranong affirmed Thailand’s economy remained strong, despite the country facing a massive flood crisis late last year, and he was confident the Gross Domestic Product (GDP) could expand more than 7 per cent this year. Prime Minister Yingluck Shinawatra on Saturday was absent […]Read More

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Bangkok Bank Expects 0% Growth in Q1 of 2012

Bangkok Bank has predicted that the first quarter of next year will see zero or even negative economic growth. The bank also advises the government to increase its role in stimulating the economy in the post-flood period. Bangkok Bank President Kosit Panpiemras said it may take the private sector three to six months to recover […]Read More