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Thailand’s 2011 economy to grow 1.7 to 2 % (FPO)

Thailand’s 2011 economy is projected to grow 1.7-2 per cent instead of the previous forecast of 2.6 per cent, with an official figure to be announced in December, said Somchai Sajjaponse, director-general of the Fiscal Policy Office.

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Thailand’s 2011 economy is projected to grow 1.7-2 per cent instead of the previous forecast of 2.6 per cent, with an official figure to be announced in December, said Somchai Sajjaponse, director-general of the Fiscal Policy Office. 

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Floods in several areas severely impacted the economy in October with auto sales dropping 38.8 per cent, compared to 13.3 per cent growth in the previous month.Thailand’s industrial index shrank 34.5 per cent. However, some industrial plants resumed production in mid-November, therefore the index is likely to improve in November and December, Mr Somchai said.

The Office of the National Economic and Social Development Board NESDB projected 2011 growth at 1.5 per cent while the 2012 economy is projected to expand five per cent, driven by the government’s plan to inject money for the development of basic infrastructure to prevent floods and Bt320 billion credit to be offered to entrepreneurs and the public.

The finance minister designated the year 2012 as Thailand’s investment year, with fiscal policy will be the main instrument of economic revival.Although the government has made a deficit budget of Bt400 billion, he said, the laws on foreign borrowing, public debt and loan guarantees for state enterprises allow additional borrowings of Bt400 billion. However, using the loans under the law may be delayed due to disbursement processes.

via 2011 GDP growth projected at 1.7-2 per cent: Finance Ministry.

Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

Pr News and BOI

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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Economics

Finance Ministry Reduces 2021 Growth Forecast to 2.3%

Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the ministry slashed its forecast for the number of foreign tourists to only 2 million this year from 5 million it had predicted three months ago.

National News Bureau of Thailand

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Export growth better-than-expected in December 2020. However, amid the second wave of COVID-19 infections, exports could fall below previously forecasted levels in 2021.

BANGKOK (NNT) – The Finance Ministry has reduced its 2021 economic growth forecast for a second time to 2.3% from 2.8% growth, after a third wave of coronavirus infections struck Thailand this month.

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Economics

Developing Asia growth set to rebound to 7.3% in 2021 (ADB)

Thailand slow vaccination progress coupled with a surge of infections has prompted Kasikorn Research Centre to lower its growth projection for the Thai economy this year from 2.6 percent to 1.8 percent. However, ADB’s forecast for Thailand growth in 2021 remains set at 3% (and 4.5% in 2022).

Olivier Languepin and Asian Development Bank

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MANILA, PHILIPPINES (28 April 2021) — Economic growth in developing Asia is set to rebound to 7.3% this year, supported by a healthy global recovery and early progress on coronavirus disease (COVID-19) vaccines, according to a new report from the Asian Development Bank (ADB).

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