Deputy Prime Minister Somkid Jatusripitak said the Thai economy is likely to stay below the 3.5% growth target as projected earlier.
He said the global economic slowdown hasweakened exports and reduced domestic consumption. He added that delays in private investment during the general election also dampened GDP in the first quarter.
Thailand’s economy grew at 2.3%YOY in 2019Q2, lowest in 19Q
Agricultural sector contracted by drought effect while industrial sector’s deteriorated following the export-related production.
Thailand’s Q2 growth rate at 2.3%, lowest in 19 quarters
Thailand’s economic think-tank warned that something must be done quickly by the government, otherwise the economic situation will get worse.
Thailand’s four challenges : Debt, inequality, plastics and climate change
Thais tended to get into debt faster, for longer and for higher amounts. Indebtedness starts as soon as they begin to work at age 25 and can increase until 56 years old.
Bank of Thailand Governor Veerathai Santiprabhob, in his speech entitled “Formulating for the Future of Corporate Governance”, delivered at the Finance and Beyond National Director Conference 2019 in Bangkok (July 24th), said Thailand faces four challenges that require good governance in businesses to address.(more…)
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