Thailand at risk of economic depression in H1 due to COVID-19
Thailand is on course for an economic recession in the first half of this year, with its 2020 GDP being forecast to decrease 0.3 percent from the previous 1.8 percent as a result of the COVID-19 outbreak, according to the Siam Commercial Bank’s Economic Intelligence Centre (EIC).
Lavaron Sangsnit, director-general of the Fiscal Policy Office (Photo: Bangkokpost)
Bangkok (VNA) – Thailand is on course for an economic recession in thefirst half of this year, with its 2020 GDP being forecast to decrease 0.3percent from the previous 1.8 percent as a result of the COVID-19 outbreak,according to the Siam Commercial Bank’sEconomic Intelligence Centre (EIC).
The centre said the growth of Thailand’s economy has become slower in the firstand second quarters of 2020 due to the declining performance in tourism,service and export sectors, and impact caused by the severe drought as well as the delayed fiscal budget in 2020.
The economy is predicted to gradually recover from the third quarter, with thenumber of tourists expected to strongly increase and financial assistance measuresimplemented to support the economy.
Meanwhile, Kasikornbank (KBank) forecast that the exchange rate will be at 31.50-32Baht/USD on March 16-20 due to the impact of the pandemic on the US andEuropean countries.
Thai stocks also posted their steepest slide since 2006, with the benchmark SET index down 17.27percent to 1,128.91 points at the last weekend.
According to a senior official from the Thai Finance Ministry, the Bank ofThailand (BOT) still has monetary policy space for further rate cuts to cushionthe impact from the Covid-19 outbreak.
Previously, the bank cut its policy rate by 0.25 percentage points to anunprecedented 1 percent at its February meeting to curb the impact of theoutbreak, the delayed fiscal budget and severe drought in the country./.
Trading on the Stock Exchange of Thailand (SET) was halted on March 13 morning, for the second straight day, as a circuit breaker was triggered after the country’s stock market fell by 10 percent, local media reported.
Exports of Thai rice have been on the rise as many countries are stocking up on food supplies due to the rampant COVID-19 outbreak, said President of the Thai Rice Exporters Association (TREA) Chookiat Ophaswongse.
To prepare for a COVID-19 presence that may be prolonged, Thailand’s Ministry of Higher Education, Science, Research and Innovation or MHESI, has brought together government and private sectors to develop applications and innovations to cope with the crisis.
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.
Lavaron Sangsnit, director-general of the Fiscal Policy Office (Photo: Bangkokpost) 
