Connect with us
CGIF-10th-Year-Anniversary

Economics

Kasikornbank predicts growth at 4% in 2013

Thailand’s economic growth will possibly be capped at 4 per cent this year given delays in the state’s 2014 budget spending and the planned Bt2 trillion investment on infrastructure development, a leading banker said today.

Avatar

Published

on

Thailand’s economic growth will possibly be capped at 4 per cent this year given delays in the state’s 2014 budget spending and the planned Bt2 trillion investment on infrastructure development, a leading banker said today.

Teeranan Srihong, Kasikornbank president, said there were no positive signs contributing to internal economic resurrection in the last four months of the year. He forecast Thailand’s economic expansion by 4.5 per cent next year after the global economy gains strength and the government kicks off some investment projects.

“Wars in some countries have toned down, boosting foreign consumers’ confidence. Thailand’s export sector should improve next year if the Thai currency remains weak as it is,” he said.

Mr Teeranan said Thailand’s overall efficiency has neither improved nor worsened – ranked 27th among 60 countries – as surveyed by the Switzerland-based International Institute for Management Development IMD.

Compared to other countries in Southeast Asia, Thailand is third after Singapore and Malaysia due to its lack of infrastructure development.

The government has mapped out investment plans for various projects but they have never been implemented, diminishing Thailand’s competitiveness in the region and creating concerns that the country’s ranking may drop, he pointed out.

The private sector’s proposals on state investment in research and development of products, and human resources development have never been executed by the government, he said. Expressing concerns on household debt, Mr Teeranan said Kasikornbank has closely monitored the financial situation and found that non-performing loans remain controllable while borrowing expansion was on target at 9-11 per cent. MCOT online news

via Kasikornbank predicts disappointing economic growth at 4% this year | MCOT.net | MCOT.net.

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.

Comments

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

Economics

Thailand Tops Bloomberg’s Emerging Markets List

Bloomberg surveys show that analysts are penciling in high rates of growth next year for some of those that have been hardest-hit in 2020.

Boris Sullivan

Published

on

Thailand and Russia are well placed to be among the emerging-market standouts that could beat expectations next year, according to a Bloomberg study of 17 developing markets gauging their outlook for 2021.

(more…)
Continue Reading

Economics

COVID-19 pandemic wiped out 81 million jobs in Asia-Pacific countries

Some 81 million jobs lost as COVID-19 creates turmoil in Asia-Pacific labour markets, according to ILO report.

Boris Sullivan

Published

on

Drops in working hours due to the Covid-19 crisis have had a devastating effect on jobs and incomes in Asia and the Pacific according to a new report by the International Labour Organization (ILO).

(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 13,413 other subscribers

Trending