Thai Economy News

As expected, the Cabinet quickly approved the huge Bt66-billion budget for its populist policies with the hope of winning majority support in the next general election.

Thailand saw strong growth in launches of new property projects in the first quarter with a total of 28,683 units, up 28.4% yearon-year, with the value rising 35% to 68.75 billion, according to Agency for Real Estate Affairs.

The Tourism Council of Thailand is has re-forecasted 2011 numbers, with expectations in the range of 16.76 to 17.21 million.

The GHB zero interest campaign would help buyers afford units for under THB3 million at developments like Pruksa's Plum Condos.

Charoen Pokphand Foods (CPF) has identified India, Vietnam, Russia and the Philippines as its top priority markets for expansion in a five-year business plan.

Concerns about an overheating condominium market were allayed in the first quarter of 2011, with a fall of around 46% of new launches when compared to the previous quarter.

Silver has been a lucrative investment option as its price has risen by 70% since January of last year, while analysts expect the rise to continue as the US dollar depreciates.

The Bank of Thailand expects an eventual balance between capital inflow and outflow this year, with such a position likely to be even more clearly seen next year.

Food prices are expected to rise on growing demand from catastrophe-hit Japan and more frequent natural disasters cutting the supply of ingredients.

Thailand's vehicle output from April through June could be slashed by as many as 150,000 units, leading to a Bt75billion loss in revenue, as all carmakers have to run at half capacity because of the disruption in the supply of parts from Japan.