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FPO expects 4% economic growth in 2019

Boris Sullivan

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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.

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

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Economics

ADB Trims Southeast Asia’s growth forecast to 4.4%

Southeast Asia’s growth forecast is revised down slightly to 4.4% for 2019, as economic weakening in Singapore and Thailand prompts downward adjustments to their growth forecasts

Asian Development Bank

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 The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors.

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Economics

Thai economy continued to be on a decelerating trend (Bank of Thailand)

The Thai economy continued to be on a decelerating trend in October, although private consumption indicators expanded and foreign tourist arrivals continued to expand.

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According to Bot latest Press Release, the Thai economy continued to be on a decelerating trend in October. The value of merchandise exports continued to contract, mainly due to the economic slowdown of trading partners, consistent with deterioration in manufacturing production and private investment indicators.

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Thai Cabinet approves new economic stimulus measures

The Thai government has rolled out new stimulus measures intended to boost full-year economic growth to 2.8%

Boris Sullivan

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The Thai Cabinet today approved three new stimulus packages to prop up the softening economy, said Finance Minister Uttama Savanayana.

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