The Thai economy is projected to grow 2.5-3.5 per cent this year, boosted by an increase in tourism activities, exports and investment, according to a leading academic economist.
Anusorn Tamajai, dean of Rangsit University’s Faculty of Economics, forecast the economy will continue to enjoy impressive growth of 6 per cent in the first quarter of this year from 5.8 per cent in the fourth quarter last year.
But after that, he said, the economy is likely to grow at a slower pace due to higher inflation rates, rising interest rates, fiscal measure constraints, and global economic uncertainties.
Overall, tourism, exports, and investment would benefit from the quick recovery of both Asian and US economies. Still, some regions, particularly Europe, might have difficulties with economic recovery.
Dean Anusorn suggested the Thai government not lift economic stimulus measures for this moment. Instead, it should prepare and opt to count on them in a proper time because the Thai economy remains vulnerable to political instability.
Thai economy continued on a decelerating trend in January
In January 2020, the Thai economy continued to be on a decelerating trend According to a Press Release by the Bank of Thailand
According to the Press Release on the Economic and Monetary Conditions for January 2020 (Bank of Thailand), the Thai economy continued on a path of deceleration in January, contracting from the previous month in the value of merchandise exports excluding gold, manufacturing production, private investment indicators, and public spending.(more…)
NESDB projects 1.5-2.5 percent growth in 2020
With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.
This year, the country’s economy is facing another big concern from the COVID-19 virus situation. With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.(more…)
COVID-19 Set to Dampen Asean and China’s Economic Growth
The SARS outbreak provides a useful benchmark, but there are significant differences between that epidemic and the latest one.
APRIL International Care opens up TeleHEALTH service to address Coronavirus worries
The TeleHEALTH service means policyholders do not have to leave their home or workplace to “see” a doctor, with a...
Thailand rolls out New Investment Measures to Boost Economy
The new definition of qualified applicants now includes businesses that have not previously received BOI promotion privileges as long as...
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...