The Latest Breaking News from Danucha Pichayanan

State agencies, businesses and households are being urged to brace for a global economic slowdown which could easily deteriorate into a recession next year.

The cabinet yesterday approved extending the Smart Visa scheme to cover a total of 18 targeted industries, up from the existing 13, aiming to entice skilled workers, investors, executives and entrepreneurs to work or invest in Thailand.

Thailand's development needs to accelerate to ensure the country keeps up with the pace of change, according to the head of the National Economic and Social Development Council (NESDC).

Thailand aims to lift the average per capita income by 31% in five years by tailoring economic and social policies to generate more wealth, even as it battles near-record household debt and a high cost of living.

Thailand's unemployment rate in the second quarter of the year was the lowest since the pandemic broke out in early 2020, a clear sign the economy is recovering from the pandemic's impact, says a senior official of the National Economic and Social Development Council (NESDC).

Geopolitical tensions have pressured Thailand's economic expansion this year, according to Danucha Pichayanan, secretary-general of the Office of the National Economic and Social Development Council (NESDC).

Structural changes in geopolitics are likely to create more risks for the Thai economy next year, warns the state planning unit's chief.

Thailand's economy is expected to grow by 3% this year and 3.7% next year, driven by exports, increased domestic demand and a recovery in tourism, the state planning agency said on Wednesday.

The government has pledged to extend the existing 10 measures devised to alleviate the hardship of low-income earners from a surge in oil prices for three months until September.

The government's planning unit, the National Economic and Social Development Council (NESDC), reported on May 23 Thailand's unemployment rate dropped in the first quarter to its lowest level since the start of the pandemic, boosted by higher employment in both the agricultural and non-agricultural sectors, as the economy gradually recovers.

Whether the government should bid farewell to economic stimulus measures became a source of debate after the topic was raised by an economist at Thailand Development Research Institute (TDRI).