FPO predicts minimum growth of 3%: Rising production costs limit upside. Fiscal Policy Office (FPO) directorgeneral Pornchai Thiraveja believes the Thai economy will grow by a minimum of 3% this year despite soaring domestic energy and product prices caused by the Russia-Ukraine war. Bangkok Post
BOT retains monetary policy: Accommodative approach endures. The central bank has revised up its assessment of the headline inflation rate for 2022 to 4.9%. The Bank of Thailand still maintains an accommodative monetary policy to support economic recovery and views that supply-side inflationary pressure will be a temporary factor. Bangkok Post
Tourism Authority (TAT) mulls proposing Tourism Ministry to add domestic tourism stimulus phase 5 (We travel together) after current prog (2m rooms) expired end of April.
Call for merger delay amid query: House panel seeks to slow True-DTAC deal. An extraordinary House committee tasked with studying the impact of the merger between True Corporation and Total Access Communication (DTAC) plans to submit a letter to the cabinet today suggesting the procedure be delayed because of legal ambiguities and questions about the regulator’s power to deal with the issue. Bangkok Post
Debt office unfazed by loan interest payments: The country’s burden in terms of loan interest payments over the next five years will not exceed the international standard level, says Patricia Mongkhonvanit, director-general of the Public Debt Management Office (PDMO). Bangkok Post
High sugar prices unlikely to benefit ailing farmers: Thai sugarcane farmers may not benefit from higher global sugar prices as their production costs, including fertilisers and oil, are also on the rise amid the Russia-Ukraine war. Sugar prices on the world market have increased as Brazil, the world’s largest sugar producer, is using more sugarcane as a feedstock for ethanol manufacturing, said Narathip Anantasuk, head of both the National Federation of Sugarcane Planters and the Office of Sugarcane Planter Association Zone 7. Bangkok Post
Academics issue alert on metaverse land bubble: Academics warn that metaverse land prices could face a bubble after surging by 300 times in two years. Bangkok Post
Cost to build homes up 5.3%: Russia-Ukraine war blamed for Q1 rise. The Russian invasion has resulted in a steel shortage in the global market. The average cost of constructing a home rose 5.3% year-on-year in the first quarter of 2022 as a result of the Russia-Ukraine war, according to Vichai Viratkapan, acting executive director of Real Estate Information Center. Service fees in the category of construction design and system works increased, particularly for structural engineering. Mr Vichai said the price of most construction materials had increased, especially steel and steel products, jumping by 35% year-on-year. Bangkok Post
Covid payouts close to B60bn at end of March: Total payouts from Covid insurance lump-sum claims rose to almost 60 billion baht at the end of March. Bangkok Post
Gas and oil deals inked in Thai gulf: Deals on petroleum sales from the Erawan and Bongkot gas fields in the Gulf of Thailand have been finalised, paving the way for more domestic gas production to reduce dependence on expensive liquified national gas (LNG) imports. The Department of Mineral Fuels, national oil and gas conglomerate PTT and PTT Exploration and Production Plc (PTTEP) have signed seven agreements, including for gas, crude and condensate oil sales from Bongkot, also known as G2/61, and gas and condensate oil sales from Erawan, also known as G1/61. Bangkok Post
