Thailand's economy staring at recession at year-end

13 Sept 21:57 Key points summarised by AI

Thailand's economy faces a potential year-end recession, despite a Q2 rebound, due to a severe third COVID-19 wave, extended lockdowns, and a decelerated recovery momentum.
Major economic institutions (NESDC, EIC, Kasikorn Research) have drastically cut growth forecasts, with some predicting a contraction, citing declining private consumption, investment, and high household debt.
Key sectors like services are in recession, and strong exports face increasing risks from factory outbreaks and international trade disruptions, further dampening economic prospects.
Government efforts, including increased budget spending and relaxed tourism rules, are challenged by low vaccination rates and surging infections, leading to significantly reduced foreign visitor forecasts.

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

20 Oct 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.