Finance Minister Korn Chatikavanij yesterday reiterated the need for stimulus measures next year to stabilise the economy, saying it remained susceptible to persistent global risk factors.
“Risks to the economy will persist next year. Despite improvements in the global economy, crises in Dubai and Greece reflect the fact that the global crisis is not yet over. The government must thus place further emphasis on stability,” he said yesterday.
He is confident Thailand's fiscal position will be strong enough to finance the measures, especially since the ministry plans to ask for Cabinet approval early next year for the proposed new land and property tax.
Tax collections should also improve, and all of this will help reduce government borrowing and fiscal deficits.
NESDC cuts Thailand’s growth to 2.6%
GDP growth this year is now expected down to 2.6 percent, but the council now expects 2020 GDP to grow at least 2.7 percent when the export sector is expected to recover
BANGKOK (NNT) – The Office of the National Economic and Social Development Council (NESDC) has announced that Thailand’s Q3 2019 GDP growth came in at 2.4 percent, adjusting the overall GDP growth this year down to 2.6 percent, citing negative factors from the trade war affecting the export sector.(more…)
Thailand’s 2019 Forecast Cut to 2.6% as Q3 GDP slows to 0.1%
On an annual basis, gross domestic product (GDP) rose 2.4% in the third quarter, less than the forecast 2.6%.
Finance Ministry cuts economic growth outlook to 2.8%
The Ministry of Finance has now cut the country’s economic growth outlook to 2.8%, from the previous 3%.
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