Government too optimistic ?
The 5% export projection set by the government is not easy to achieve, it says.
TNSC deputy chairman Wallop Vittanakorn said the government’s export growth target of 5% would be difficult to achieve due to the slowing global economy.
Instead he was optimistic the Thai export should expand in Cambodia, Laos, Myanmar and Vietnam and he urged exporters to target major cities in these countries as their export destinations instead of border towns.
He called on the government to be more serious in helping Thai exporters penetrate new markets.
TMB Bank exports prediction at 1.8%
Meanwhile Thai Military Bank (TMB Bank),’s research centre predicted that Thailand’s exports should grow at 1.8% this year.
He said the slowdown of the Chinese economy of which its expansion was a powerhouse for regional and the country’s export growth in the past several years will not affect the country much.
He believed the effect of Yuan depreciation on the Thai export will not be enormous.
He pointed out that the Thai baht has also weakened, noting that if the US Federal Reserve raised the interest rate even further, it would give the Thai export a boost.
The Thai economy this year will also be driven by the government’s investment and tourism and GDP should grow between 3-3.5%.
Thailand relaxes COVID-19 measures to help revive economy
During the past couple weeks, new infection cases have been down from roughly 20,000 daily cases to 17,000 -19,000. Moreover, the number of daily discharges is exceeding infections, which has led to the conclusion that the situation is improving.
Thailand relaxed more virus related social curbs on September 1st, in dozens of cities including Bangkok, in a move that may indicate that the country’s economy, hit hard by COVID-19 will soon revive, lead by the export sector and sound financial fundamentals.(more…)
Southeast Asia to relinquish its lead over Latin America says Moody’s
While the emerging economies of Southeast Asia have outperformed their counterparts in Latin America for most of the past two decades, their lead will slide in the next few quarters as Southeast Asian governments clamp down to fight the pandemic’s lingering second and third waves.
The Delta surge is casting larger clouds over the global recovery and emerging markets are in the thick of it. Despite the ebbing of the coronavirus variant in India, where it first emerged, its spread in Southeast Asia, Africa, and the Middle East has steepened the road to recovery in these regions.(more…)
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