Connect with us
wise

Economics

FPO expects 4% economic growth in 2019

Published

on

The Fiscal Policy Office reports that last year’s economic growth could hit the 4.1% mark, expecting the Thai GDP to expand at a rate of 4% this year.

Loading...

The FPO earlier predicted the economy would expand 4.5% last year, but export contraction in the final two months, in part because of the trade war, tempered growth.

Estimating last year’s economic figures ahead of an official announcement, Director of the Fiscal Policy Office (FPO), Lawaron Sangsanit, said that Thailand’s 2018 GDP growth would be around 4.1%.

The growth is to be driven by domestic consumption, private expenditure, and government’s economic stimuli such as the social welfare card scheme and infrastructure investment, both of which helped trigger spending among private companies.

In December, the Bank of Thailand trimmed economic growth forecasts for 2018 to 4.2% from 4.4% predicted earlier, and for 2019 to 4% from 4.2%.

The FPO director projected this year’s GDP to rise 4%, citing public spending, public-private partnership projects, the development of basic infrastructure, and the general election as the main reasons.

Despite the optimism, there remain some risk factors such as the global economic slowdown, the trade dispute between China and the US, currency fluctuations, and the global stock market

Economics

Thailand’s Recovery uneven with setbacks in the near term

The surge in Covid cases, slow vaccine rollout, and new restrictions will hit confidence and delay the anticipated recovery in household consumption, particularly of services

Published

on

The pace of contraction in GDP narrowed to 2.6% y/y in Q1, following a 4.1% fall in the previous quarter amid strong growth in public investment and goods exports.

Loading...
(more…)

Continue Reading

Economics

Sluggish vaccine campaign threatens Thailand’s economic recovery

The latest baseline scenario issued by the bank of Thailand predicts a GDP growth of 2%, assuming that vaccine procurement and distribution reaches 100 million doses this year and leads to herd immunity in the first quarter of 2022.

Published

on

The Bank of Thailand (BoT) slashed again Thailand’s economic growth forecast for 2021 for the second time this year targeting a mere 1 to 2% growth, depending mainly on the procurement and distribution of Covid-19 vaccines.

Loading...
(more…)

Continue Reading

Economics

Thailand’s Consumer Confidence Drops to Record Low in April

The University of the Thai Chamber of Commerce (UTTC) estimated an economic loss of 400-600 billion baht if the outbreak continues beyond this month

Published

on

BANGKOK (NNT) – The University of the Thai Chamber of Commerce (UTTC) said consumer confidence hit a record low in April, dropping to 46.0 from 48.5 in March, dented by a new wave of COVID-19 infections.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

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

Join 14,081 other subscribers

Latest

Trending