Government Savings Bank points out that the economy will gro
Jan 1, 2024 18:10:15 GMT -11
Post by account_disabled on Jan 1, 2024 18:10:15 GMT -11
Mr. Chatchai Payuhanaweechai, Director of the Government Savings Bank, revealed that the Government Savings Bank Research Center It is estimated that the economic expansion (GDP) of Thailand in 2019 will expand at 3.0%, slowing down when compared to the previous year. which is affected by the trade war and the value of the baht that continues to strengthen It is a major pressure on the export sector. Meanwhile, the Thai economy in 2020 is expected to expand by 3.3%. For the expansion of the Thai economy in 2019, there are supporting factors from 1. Measures to help low-income people through state welfare cards Help maintain purchasing power of the household sector. 2. The issuance of investment promotion measures to support the relocation of production bases by foreign investors (Thailand Plus Package) has a positive effect on private investment.
3. Tourism continues to expand even though the number of Chinese tourists has slowed Industry Email List down. Receive compensation from tourists in East Asia and South Asia. 4. The central banks of major economies have returned to implementing more monetary easing policies and 5. Having an elected government is good for driving the country's economy, building confidence in negotiating various trade zones. Meanwhile, risk factors for the Thai economy in 2019 include: 1. Exports are likely to shrink. from the impact of the trade war between the United States and China Including the value of the baht which tends to continue to strengthen. 2. The agricultural sector was affected by the floods. As a result, the amount of agricultural production and household income tends to decrease. 3. Oil prices have increased due to unrest in the Middle East, affecting business costs. 4. Delayed inspection and disbursement processes in large investment projects may cause investment budget disbursement not to meet the set goals, and 5. Political conflict situations in various regions. Both in the Middle East in the case of Iran and the United States, in the conflict in the Kashmir region between India, Pakistan and China, etc., which if negotiations are unsuccessful, it may develop into a more serious conflict.
As for economic stability, it is in good condition. But there is a trend of deterioration due to the current account surplus decreasing from the trade surplus and the services balance which is expected to be in a smaller surplus. In addition, the baht still tends to strengthen as reflected by the rising real baht index. However, general inflation remains below the target level. The direction of monetary policy tends to be more accommodative, including a reduction in the policy interest rate and an easing of home loan supervision rules (LTV) for syndicated loans. Conducive to economic expansion and the real estate sector. Under pressure from the risk of a slowdown in the global economy and the economies of trading partners becoming more apparent. Previously, the World Bank (World Bank) in Thailand has lowered its forecast for the Thai economic growth in 2019 to 2.7% from the original forecast of 3.5% due to the negative export sector in the first half of the year that was higher than expected. It is expected that this year's exports will be negative 5.3% from last year's expected growth of 2.2%. Moreover, this year Thailand is still experiencing the effects of the most severe drought in many years. and low government investment budget disbursements.
3. Tourism continues to expand even though the number of Chinese tourists has slowed Industry Email List down. Receive compensation from tourists in East Asia and South Asia. 4. The central banks of major economies have returned to implementing more monetary easing policies and 5. Having an elected government is good for driving the country's economy, building confidence in negotiating various trade zones. Meanwhile, risk factors for the Thai economy in 2019 include: 1. Exports are likely to shrink. from the impact of the trade war between the United States and China Including the value of the baht which tends to continue to strengthen. 2. The agricultural sector was affected by the floods. As a result, the amount of agricultural production and household income tends to decrease. 3. Oil prices have increased due to unrest in the Middle East, affecting business costs. 4. Delayed inspection and disbursement processes in large investment projects may cause investment budget disbursement not to meet the set goals, and 5. Political conflict situations in various regions. Both in the Middle East in the case of Iran and the United States, in the conflict in the Kashmir region between India, Pakistan and China, etc., which if negotiations are unsuccessful, it may develop into a more serious conflict.
As for economic stability, it is in good condition. But there is a trend of deterioration due to the current account surplus decreasing from the trade surplus and the services balance which is expected to be in a smaller surplus. In addition, the baht still tends to strengthen as reflected by the rising real baht index. However, general inflation remains below the target level. The direction of monetary policy tends to be more accommodative, including a reduction in the policy interest rate and an easing of home loan supervision rules (LTV) for syndicated loans. Conducive to economic expansion and the real estate sector. Under pressure from the risk of a slowdown in the global economy and the economies of trading partners becoming more apparent. Previously, the World Bank (World Bank) in Thailand has lowered its forecast for the Thai economic growth in 2019 to 2.7% from the original forecast of 3.5% due to the negative export sector in the first half of the year that was higher than expected. It is expected that this year's exports will be negative 5.3% from last year's expected growth of 2.2%. Moreover, this year Thailand is still experiencing the effects of the most severe drought in many years. and low government investment budget disbursements.