1. BoT warns of GDP growth below 1%: Odds of technical recession depend on how long coronavirus spreads, says bank official. The Bank of Thailand says the economy is likely to expand by less than 1% in 2020 if the coronavirus outbreak lasts throughout the year, says a central bank senior official. Bangkok Post
  2. Great Wall carries the weight : GM’s exit from the Thai auto industry comes as China is investing heavily in manufacturing regionally. Although General Motors’ business here was not a market leader, Thailand was an important production hub for pickups, a segment in which the country ranks fifth globally for manufacturing. GM’s Feb 17 announcement that it would cease its Thai market operations and sell the Rayong plants has shaken the automotive sector in several dimensions. From sales, production, exports and auto supply chains to auto loans, car insurance and the used-car market, the aftermath of the exit remains unresolved. Bangkok Post
  3. Crisis has markets pleading for stability support : A panic-selling spree ignited by mounting coronavirus infections across the globe caused another free fall for Thailand’s stock market, prompting consultants to urge the Finance Ministry to rethink expired tax deduction privileges for long-term equity funds (LTFs) and help stabilise market conditions. Bangkok Post
  4. BoT: More than one solution : Central bank governor highlights importance of addressing possible adverse effects on employment from Covid-19 outbreak. Concerns over the economy entering a technical recession have overshadowed the importance of addressing possible adverse effects on employment from the Covid-19 outbreak, says the Bank of Thailand. Bangkok Post
  5. Operators to lean on domestic tourists : The domestic meeting and leisure market is seen as the last resort for the local tourism industry to battle the decline in foreign tourists, but despite government aid measures, demand is still slow. Bangkok Post
  6. Outrage over mask shortages : Panic buying spurred by first Thai fatality. People are crying foul over the shortage of masks amid the novel coronavirus outbreak, triggered by the death of a Thai man who was diagnosed with the Covid-19 virus. Bangkok Post
  7. Tycoons ready to splash out on Tesco : Trio place bids for a deal expected to be one of Asia’s biggest 2020 transactions. The battle between Thailand’s retail titans for Tesco is heating up, with all three giants saying they have placed bids for a deal that is expected to be one of Asia’s biggest transactions this year. Bangkok Post
  8. Panel warns growth could sink towards zero : A panel of private sector leaders has warned that economic growth could sink towards zero in the first half and even shrink for the full year if the coronavirus epidemic is prolonged until late 2020. Bangkok Post
  9. B100bn relief package for virus : Govt handouts, soft loans ease impact. The Finance Ministry has launched a huge relief package including cash giveaways to many more individuals beyond the 14 million people with annual base incomes not exceeding 100,000 baht and who are registered as poor to help cushion fallout from the spread of the new coronavirus. Bangkok Post
  10. Operators underwhelmed by cash perk: Tourism operators don’t see cash giveaways as a remedy for the tourism drought, as many high spenders who have missed expensive outbound trips still have strong purchasing power. Bangkok Post
  1. peter satrapa-binder

    1.) BOT is really very optimistic regarding GDP, i’d say. the panel of private sector leaders in paragraph 8.) seems to be more realistic, i’d rather expect a minus this year too…

    5.) domestic tourism: well, if the thai citizens and expats in thailand won’t have much money to spend on holidays due to the bad economic situations this year, the hoped for increase in domestic tourism will not materialize, methinks. independently of fear of the coronavirus or not…

    • fairly certain thailand has -ve GDP figures for 1Q20

      Interesting observation last weekend – hua hin hotels haven’t dropped rates and its full of western tourists. 2Q is going to be interesting to observe, but nothing can make up for 20% of total tourists gone, domestic tourists will just cushion the drop at best.

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