Thailand remains the sick man of south east asia

Months of political deadlock and stock market volatility have finally come to a close in Thailand. The appointment of new Prime Minister Srettha Thavisin is expected to boost investor confidence in the short term but experts say the long-term economic recovery will prove challenging. While the Move Forward party won May's general election, it was unable to obtain approval from the conservative Senate.

Add this topic to your myFT Digest for news straight to your inbox. Former coup leader Prayuth Chan-ocha accused of overstaying legally mandated eight-year term. Slow inoculation rollout has been aggravated by surge of highly infectious variant. Student-led movement that has roiled kingdom for months wants companies to take sides. Demonstrations against the king and state are expanding despite state of emergency. Senators forced to leave parliament by boat after rejecting constitutional reform demands.

Thailand remains the sick man of south east asia

Populists and the military voted in Srettha Thavisin, a tycoon. Markets are cheering the end of an impasse. Relief may be brief. Japan and the UAE will soon have legal casinos; Thailand may follow. The winning party remains upbeat it can form a government. No matter who wins, old hostilities will escalate. While both sides plan populist handouts, neither has an inspiring economic agenda. While legalising ganja has been a slow burn in Asia, official attitudes are shifting. Demand from regional consumers will slowly light up. Rising home consumption can be a comforting tipple amid global uncertainty. Well-priced boozy deals could crack open the wider market. Yet the scale of that punt is reduced by the fact this is also a prime real estate deal. Following its jumbo Malaysian merger, the Norwegian telecom operator plans to combine its Thai unit with a rival owned by conglomerate CP. The Malaysian carrier led by Tony Fernandes is swapping a 4.

He vowed to quickly take measures to relieve debt problems, mitigate rising energy costs and boost tourism, without going into detail. Tuesday, 11 August,

Sinking in heavy repayments to loan sharks, Non says payday is nothing more than a cruel reminder of his dire finances. Household debt has surged to alarming levels in Thailand; just one of a welter of issues dragging on the economy despite a vow by the ruling junta to revive the kingdom's fortunes. Thai households are among the region's biggest borrowers, a credit binge stoked by populist policies and low bank interest rates -- but also low wages that keep the poor perilously close to the breadline and make them ready bait for illegal loan sharks. The debt levels are worrying the generals who seized power last May promising to end a near-decade of political turmoil and restore zip to Thailand's once-dynamic economy. The country narrowly avoided recession during protests against the ousted administration of Yingluck Shinawatra, which paralysed government spending and frightened off tourists and investors. Nine months after the military power grab, signs of economic recovery are still few with fourth quarter GDP figures, to be released on Monday, expected to come in at around 0.

Vietnam, Indonesia, Malaysia and the Philippines are forecast to grow more than 5 percent this year, while Thailand is on the verge of a recession after gross domestic product shrank in the first quarter. The Philippines is forecast to say tomorrow that first- quarter GDP grew 6. The benchmark SET index of stocks has gained about 7 percent this year, lagging the 16 percent gain for the Jakarta index and the 15 percent increase for the Philippines. The baht is among the worst performers over the past six months of 11 widely traded Asian currencies tracked by Bloomberg. Before the coup, anti-government protesters had been demanding an unelected council run the country to wipe out the influence of former prime ministers Thaksin Shinawatra and his sister Yingluck, whom they accuse of corruption and using the appeal of economically damaging populist policies to win the last five elections. Thailand has overcome coups, natural disasters and downturns in the past. During the last military intervention in , annual economic growth accelerated to 5.

Thailand remains the sick man of south east asia

For the latest, search on ABC Emergency. As the end of approached, Thailand was in an enviable position. As other nations confronted soaring coronavirus case numbers, the country had only 4, infections and just 60 deaths in a population of 70 million people. Life had just about returned to normal. Thailand had even begun to welcome foreign tourists again after a two-week hotel quarantine stay. Then, the week before Christmas, a year-old vendor at a seafood market in Samut Sakhon province, just outside Bangkok, tested positive to COVID despite no overseas travel records. It remains a mystery precisely where and from whom the vendor contracted COVID, but Thailand's Prime Minister Prayuth Chan-ocha has pointed the finger at illegal immigrants from neighbouring Myanmar. The outbreak did spread amongst the local, tight-knit migrant community — a large source of labour for Thailand's seafood industry — but the World Health Organization WHO said there was no evidence it began there.

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Demand from regional consumers will slowly light up. Tuesday, 16 May, Sunday, 7 January, Senators forced to leave parliament by boat after rejecting constitutional reform demands. He argued stimulus is needed due to the slow recovery in tourism and consumer spending. Thursday, 22 April, Thailand plaque disappearance stirs fears about military rule. Please enable cookies in your browser settings. The promise drew major interest in the election campaign, but critics have questioned whether it would have a sustainable effect. FTCR survey finds that many Thais expect the vote to slip to or beyond. Thai PM suspended after legal challenge over length of time in office. Business Insider. But policies by the previous government -- including a huge tax rebate scheme for first-time car buyers -- have also encouraged millions to take out loans that they are now struggling to repay. Evening Standard. RepublicofThailand trends as protesters maintain push on monarchy.

By webfact March 26, in Thailand News. Ath Pisalvanich, director of the university's International Trade Studies Centre, said out of 4, small- and medium-sized Thai enterprises have planned to invest in neighbouring Indonesia, Myanmar and Laos with a total investment of Bt77 billion.

Senators forced to leave parliament by boat after rejecting constitutional reform demands. Quek Jie Ann. Companies Show more Companies. Personal Finance Show more Personal Finance. The Russian warship's crew rained machine gun fire down on the water but ultimately failed to stop the Ukrainian drones from hitting their ship. Thais more upbeat ahead of election Premium content. Markets are cheering the end of an impasse. Back to top. Search the FT Search. As Barclays Capital put it in a note last month: "The main impediment to growth at present is the slow pace of fiscal spending, which is also delaying investment and consumption decisions. Thai junta stakes legacy on industrial plan. World Show more World. Rising home consumption can be a comforting tipple amid global uncertainty.