Connect with us

Economics

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.

Avatar

Published

on

Thailand’s economic growth rate for the second quarter of this year registered at 2.3%, compared to 2.8% for the first quarter, which is the lowest in 19 quarters

Although the Thai economy is not yet in a critical condition, Mr. Tossaporn Sirisamphan, secretary-general of the National Economic and Social Development Board (NESDB), Thailand’s economic think-tank warned that something must be done quickly by the government, otherwise the economic situation will get worse.

Commenting on the over 300 billion baht economic stimulus package, approved by the cabinet last week, Mr. Tossaporn said that Thai exports for the second half of the year must expand by at least 3% and tourist arrivals must exceed 20 million, or revenue from tourism must be 2.4 trillion baht, while private investment must increase at least 2.9% in order to reverse the economic slowdown during the third and fourth quarters.

He blamed Thailand’s economic slowdown during the first half of this year to global economic fluctuations, global financial instability, the trade war between the United States and China and the domestic political situation.

Thai exports for the first half of the year contracted by 4% and exports for the second half must expand by at least 3% in order to achieve the anticipated 3% growth rate for the whole year, said the NESDB chief.

He expressed concern, however, over the risk factors for the Thai economy during the second half of the year, citing the continuing US-China trade war, devaluation of the Chinese Yuan currency and the South Korean currency, as well as the bearish stock markets worldwide.

Nevertheless, he is optimistic that the Thai economy will recover during the third and fourth quarters.

Source link

Continue Reading
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Economics

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%.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – After three quarters, the global economic slowdown and the ongoing trade war between China and the United States, are still having an adverse impact on the Thai economy.

(more…)

Continue Reading

Asean

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.

Avatar

Published

on

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…)

Continue Reading

Economics

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

Avatar

Published

on

iStock-1144933955.jpg

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…)

Continue Reading

Most Read

Upcoming Events

Wed 27

The Future Energy Show Thailand

November 27 @ 10:00 am - November 28 @ 5:30 pm BMT
Dec 02

Top Food science conference 2019

December 2 @ 9:00 am - December 3 @ 5:00 pm BMT
Dec 05
Dec 05

The Healthcare+ Expo Taiwan

December 5 @ 9:00 am - December 8 @ 5:30 pm BMT

Press Release

Subscribe via Email

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

Join 11,797 other subscribers

Trending