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%.
Vaccine shortage could derail Thailand’s economic recovery
As much of the Asia-Pacific region is gearing up for a 2022 reopening and recovery, Thailand is now lagging behind many countries in vaccine procurement and sluggish vaccine campaign threatens the country’s economic recovery.
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
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