The slowing of Thailand's economy is expected to hit the construction sector hard, with a number of major developments being put on hold and investments for new projects drying up. In late February, industry leaders warned there would be a sharp contraction in the construction sector this year, coming hard on the heels of a steep decline in the second half of 2008. Their concerns proved right,…
Thailand's education system is one of the big winners from the government's recent economic stimulus package, while other reforms due to be implemented in May will encourage parents to keep their children in school and ease their financial burden. The country already has one of the highest levels of spending on education in the region at 25% of the state budget and 4.3% of GDP, according to a report…
While Thailand’s economy formally entered recession as of the end of the first quarter of the year, with exports falling sharply, many experts and officials believe the worst is over and recovery is within sight. If so, it would be more than welcome as the Thai economy recorded its worst results in a decade in first three months of 2009, with GDP falling by 7.1% compared to the same period last…
Thailand's government is having to balance hard economic realities with the need to provide relief to many in the community, especially those in lower-income brackets, as it mulls whether to continue price subsidies for liquid petroleum gas (LPG). While Thailand has a diverse mix of energy sources, with sizeable reserves of oil and gas, and is making increasing use of other sources such as biofuel,…
Thailand's economy may be poised for a bounce back after it was hit by the global financial crisis, with the country's capital markets showing signs of leading the way back to growth. In a televised address to the nation on August 2, Prime Minister Abhisit Vejjajiva said there were definite signs that the country's economy was moving towards recovery, citing the rise of Thailand's securities markets…
There are some signs that the Thai economy is on the road to recovery, with consumer confidence on the rise, industrial production strengthening and GDP moving out of the red, though there are a few potential potholes along the route. Confidence levels among Thai consumers reached a seven-month high in August, registering 74.5 points on the index produced by the University of the Thai Chamber of Commerce,…
Thailand is planning to step up spending on information and communications technology (ITC) in order to strengthen the education system and better prepare the country's youth to work in an increasingly knowledge-based society. As part of a programme of reforms for the education system, the government has announced it will quadruple the number of computers in classrooms, broaden the use of advanced…
At the start of 2009, the prospects were somewhat bleak for the Thai economy, already deep in recession, but 12 months later the country is well on its way to recovery, though there are still a snags that could undermine growth. Though Thailand's economy contracted by 2.8% year-on-year in the third quarter, the shrinkage was far less than the 7.1% in the first three months of 2009 or the 4.9% in…
Thailand is looking to overhaul the country's rail network, planning to combine state spending with private sector investments to revamp a system that in recent years has been overtaken by road transport as the economy's primary freight mover. An effective cargo-moving network is essential for the Thai economy, with exports contributing some 70% to GDP. Despite possessing over 4000 km of track linking…
Thailand is planning to step up spending on information and communications technology (ITC) in order to strengthen the education system and better prepare the country's youth to work in an increasingly knowledge-based society. As part of a programme of reforms for the education system, the government has announced it will quadruple the number of computers in classrooms, broaden the use of advanced…
