Connect with us
CGIF-10th-Year-Anniversary

Economics

ADB lowers Thailand’s growth forecast to 4-4.3%

The Asian Development Bank ADB will revise its forecast on Thailand’s economic growth for this year from 4.9 per cent to 4-4.3 per cent.

Bahar Karaman

Published

on

Asian Development Outlook 2011

The Asian Development Bank ADB will revise its forecast on Thailand’s economic growth for this year from 4.9 per cent to 4-4.3 per cent. Luxmon Attapich, senior ADB economist, said the country’s export growth would be adjusted to 8 per cent due to an export slowdown.

Household debts have also affected domestic spending, she said. Dr Luxmon said global economic revival, particularly in the US and Europe in the second half of the year, should be closely monitored as it would have an impact on Thailand’s exports. Accelerated spending of the national budget in the third and fourth quarters will boost the private sector’s investment while the government’s investment on Bt2 trillion infrastructure projects, if implemented next year, will help move Thailand’s economy forward, she said.

She said the ADB earlier predicted outflows of foreign capital from Thailand after an announcement by the US Federal Reserve to scale down its economic stimulus through quantitative easing, adding that the situation in Thailand was less severe than in Indonesia and India due to the kingdom’s solid economic fundamentals and large foreign reserves.

The ADB was not concerned with the high level of household debts given normal repayment, she said. In its report on Asia’s Economic Transformation, the ADB says Thailand is becoming an industrial country given its industrial productivity at higher than 18 per cent compared to gross domestic product GDP and employment in the industrial sector at more than 18 per cent.

rice production. Picture: adb.org

Thailand, remains a low income country due to its high employment rate of 40 per cent in the agricultural sector compared to the industrial sector

Thailand, however, remains a low income country due to its high employment rate of 40 per cent in the agricultural sector compared to the industrial sector, according to the report. With higher per capita income, the Thai government should upgrade the education standard to usher its population into the industrial sector, the report suggests. Becoming an industrial country will boost the people’s income and welfare, and reduce the income gap, says the report. It says the ADB looks forward to an increase in Thailand’s per capita income from US$5,000 to the standard level of US$12,500. MCOT online news

via ADB to lower Thailand’s economic growth to 4-4.3% | MCOT.net | MCOT.net.

Comments

Economics

Thailand’s slow economic recovery

The speed of economic recovery in Thailand has been slower than neighbouring countries such as Malaysia, Vietnam and China, especially in terms of industrial and service output.

East Asia Forum

Published

on

Thailand’s economic performance in the third quarter of 2020 showed promising signs of recovery amid the ongoing COVID-19 pandemic.

(more…)
Continue Reading

Economics

Thai Exports to grow 4% in 2021

Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year.

National News Bureau of Thailand

Published

on

iStock-1144933955.jpg

BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return to expansion mode, based on signs of economic recuperation globally and the distribution of a vaccine to protect people against COVID-19.

(more…)
Continue Reading

Economics

96% of Foreign Investors still confident in Thailand says BOI

The Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in Thailand, the Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,520 other subscribers

Trending