Bangkok, 6 June 2019 (NNT) – As for the economic situation, the meeting of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) forecasts that the delay in the government establishment will affect the expenditure budget for the year 2020.
The contracted exports will also affect the economy in the second half of the year. Therefore the JSCCIB will review the overview of the Thai economy this year the next month.
The meeting of the JSCCIB, therefore, prepares to revise the Thai economic forecast this year next month after the end of the second quarter when the political situation should be clearer.
The likely prolonged trade war problem because the United States may raise tariffs on Chinese products which could affect the export this year, and there is still a political factor from the delayed establishment of a government which will affect the preparation of the annual expenditure budget 2020.Mr. Predee Daochai, Chairman of the Thai Bankers’ Association (TBA)
Mr. Suphan Mongkholsuthee, Chairman of the Federation of Thai Industries, added that the JSCCIB has prepared a private sector’ economic development proposal for a new government in economic development and also requires the Joint Public-Private Sector Consultative Committee to meet every six months in order to promptly solve problems.
He has urged the new government to roll out tax-oriented stimulus measures to boost the country’s economy. He said the new government should also continue pushing megaprojects which have already been started.
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%.
We’ve entered the Asian Century and there is no turning back
In the nineteenth century, the world was Europeanized. In the twentieth century, it was Americanized. Now, it is being Asianized – and much faster than you may think.
Asia’s rise has been swift. Home to more than half of the world’s population, the region has climbed from low- to middle-income status within a single generation. By 2040, it is likely to generate more than 50% of world GDP, and could account for nearly 40% of global consumption.(more…)
EIC Export growth forecast for 2019 is maintained at -2.5%
Without a clear signal of export recovery, EIC views that during the 4th quarter of 2019 the export contraction momentum will continue
Although China and the US reached a preliminary trade agreement on October 10-11, 2019, the ongoing trade war should still drag on, pressuring export growth throughout the remainder of the year. Hence, EIC maintains its -2.5% export growth forecast for 2019.(more…)
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...