The World Bank flagged a warning that 8.3 million workers in Thailand could lose jobs or income from the coronavirus pandemic, but the Thai economy is estimated to bounce back to pre-pandemic level in the next two years as the country eases its coronavirus lockdown. The coronavirus crisis has put many jobs, in particularly those […]
Read MoreThe coronavirus outbreak continues to wreak havoc on Thai tourism, with a key gauge nearing rock bottom in the second quarter and 2.6 million workers in the industry at risk of unemployment. Chairat Trirattanajarasporn, president of the Tourism Council of Thailand (TCT), said the tourism confidence index polled 770 tourism-related operators during May 10-25 and […]
Read MoreUp to 16,680 factory workers lost their jobs in Thailand in the first six months of the year, with 404 factories closing down, as the pandemic continues to hamper the economy, according to the Department of Industrial Works (DIW). The country has lost an estimated 25.4 billion baht in investment value from the closures. Most […]
Read MoreThe banking industry’s bad loans are seen climbing higher for the remaining period of the year, but the central bank is giving assurances that commercial banks’ capital buffer is strong enough to tolerate rising non-performing loans (NPLs) if the economy shrinks 8.1% this year. “Despite signs of rising NPLs from March, it will not affect […]
Read MoreThailand’s economy is expected to be impacted severely by Covid-19, shrinking by at least 5 per cent in 2020 and taking more than two years to return to pre-virus GDP levels, according to the World Bank’s Thailand Economic Monitor, released today (June 30). The pandemic has “shocked the economy especially in the second quarter of […]
Read MoreThailand’s manufacturing production index (MPI) in May climbed slightly from April to 80.3, but was still down by 23.1% year-on-year. The improvement was mainly attributed to the easing of the lockdown, though overall production was unimpressive as businesses struggled against weak domestic purchasing power, lower exports, a global economic slowdown, a drought and the nationwide […]
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