Kasikorn Research Centre adjusts 2020 growth forecast down to -6%

14 Sept 03:31 Key points summarised by AI

Kasikorn Research Centre (KRC) revised Thailand's 2020 GDP forecast to a 6% contraction, worsening from its previous 5% projection.
The downward adjustment is attributed to global factors like the COVID-19 pandemic, US protests, US-China tensions, and a more severe contraction in household spending due to public uncertainty.
Key economic engines—tourism, real estate, and automotive—are expected to face a prolonged recovery, with the tourism sector, supporting four million workers, requiring priority government aid.
Despite no immediate public debt concerns, KRC suggests state fund disbursement and potential benchmark interest rate cuts as crucial tools to stimulate the economy.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.