The COVID-19 pandemic has hit Thailand’s economy harder than any event in the last six decades, with its GDP projected to fall 4 percent and 10 million jobs to be lost, according to the University of the Thai Chamber of Commerce (UTCC).
A deserted lounge at the Suvarnabhumi airport in Bangkok amid Covid-19 (Photo: AFP/VNA)
Bangkok (VNA) - The COVID-19 pandemic hashit Thailand’s economy harder than any event in the last six decades, with its GDP projectedto fall 4 percent and 10 million jobs to be lost, according to the University ofthe Thai Chamber of Commerce (UTCC).
Director of the UTCC’sCentre for Economic and Business Forecasting Thanawat Phonwichai said the Thai Chamberof Commerce (TCC) confidence index fell to its lowest point in March since January2018 as a result of the pandemic.
The country could stillrecover in the fourth quarter, he added, if the situation stabilises.
The centre predicts Thailand’seconomy will contract by about 4 percent in 2020, stemmed in part by the government’s1.9 trillion baht (58 billion USD) stimulus measures. Without this help, it said, the figure wouldbe 8.8 percent.
It also proposed the Governmentlower interest rates, suspend debt and tax payments, and reduce electricity andwater tariffs while compensating employees who are outside of the social securitysystem.
In order to support localpeople affected by COVID-19, the Ministry of Commerce has recently launched a campaigncutting prices of 72 consumer goods by between 5 and 58 percent, which will remainin place until June 30.
Goods include food andbeverages, frozen food, additives, daily consumer products, and body care and hygieneproducts./.
The Thai Prime Minister clarified, during the censure debate this week, that the government has expedited measures to stimulate the economy quickly and strengthen the foundations of the country.
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.
The Asian Development Bank (ADB) has predicted that the Thai economy will shrink by 4.8 percent this year due to the COVID-19 pandemic, heading for its deepest contraction since the Asian financial crisis in 1998.
The International Monetary Fund (IMF) downgraded the economic forecast for Thailand in 2020 to a contraction of 6.7 percent, due to impact of the ravaging COVID-19 pandemic.
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.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
A deserted lounge at the Suvarnabhumi airport in Bangkok amid Covid-19 (Photo: AFP/VNA) 
