Connect with us
The clever new way to send money abroad

Business

Thai economy to grow 3.6% in 2019

Thai economy this year is now expected to grow at 3.6%, showing minor signs of deceleration due to the global economy

Published

on

2019 Thai economy to grow at 3.6%

BANGKOK, 27 April 2019 (NNT) – The overall Thai economic prospects still see continuous growth potential from private investments and tourism, while the establishment of an elected government will help bring back capital to the market, according to Siam Commercial Bank.

Siam Commercial Bank (SCB) Head of Investment Advisory and CIO Sornchai Suneta revealed the Thai economy this year is now expected to grow at 3.6%, showing minor signs of deceleration due to the global economy.

Global economic growth projection down to 3.3%

After the International Monetary Fund has adjusted the global economic growth projection down to 3.3% due to trade issues between economic superpowers, namely China and the U.S., which affects the Thai export sector which has been showing signs of deceleration since Q1 this year.

The main economic driving forces for Thailand this year will be investments from private sector and growing tourism business, while the government’s major investment projects will continue as planned.

The government will also issue short-term economic measures which will help raise the general’s public confidence in spending.

SCB expects the stock exchange to recover to 1,700-1,800 points

Thailand’s stock exchanges are currently being affected from the political situation, which will remain temporary as many investors are seeking clarity on the establishment of an elected government.

SCB expects the stock exchange to recover to 1,700-1,800 points in the latter half this year due to the new government’s economic measures, including short-term stimuli and industrial investments in the Eastern Economic Corridor.

The SCB also expects the Monetary Policy Committee to keep the policy interest rate at 1.75% throughout this year due to decelerating economic performance.

Source link

Click to comment

Leave a Reply

Business

China’s economy stumbles on power crunch

Published

on

BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks and major wobbles in the property market and raising pressure on policymakers to do more to prop up the faltering recovery.

(more…)
Continue Reading

Business

Thailand aims to push its games and content industry

After almost a year under the pandemic, the number of game players in Thailand rose to 32 million and helped the market generate over a billion dollars in 2020, according to NewZoo, an international analytics and market research group.

Published

on

Currently, key digital organizations involved in the economy are joining forces to push the Thai gaming industry, so as to attain the level of a regional hub.

(more…)
Continue Reading

Most Read

Recent