Connect with us

Economics

Thai private sector cuts economic growth forecast to 2.7-3% from 2.9-3.3%

The Joint Standing Committee on Commerce, Industry and Banking has revised downward its forecast of Thailand’s economic growth this year to between 2.7 per cent and 3.0 per cent

Boris Sullivan

Published

on

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) agreed today to lower down the economic growth projection (GDP) to 2.7-3% from 2.9-3.3% due to weakening economic growth during the first three quarters of the year.

The global economic slowdown, as a result of trade tensions between China and the United States, compounded by a strong baht currency, continues to dampen exports, with impacts on the production sector.

Domestic consumption and investment also remain weak, said the JSCCIB adding, however, that the tourism sector shows slight growth.

The joint committee, involving the Thai Chamber of Commerce, the Federation of Thai Industries and the Thai Banking Association, also predicted continuing contraction of exports from -1% to 1% to -2% to 0.0%.

Earlier this week the Kasikorn Research Centre (KResearch) revised downward its economic growth forecast for 2019 from 3.1 per cent to 2.8 per cent, while predicting that the economy may grow at less than 3.0 per cent next year amid numerous negative factors.

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

Economics

IMF and SCB lower Thai growth forecast under 3%

IMF and SCB have joined other banks and organisations to predict Thai economic growth under 3% for 2019.

Olivier Languepin

Published

on

Siam Commercial Bank’s (SCB) Economics Intelligence Center (EIC) has adjusted its Thailand 2019 economic growth projection from 3 percent down to 2.8 percent.

(more…)

Continue Reading

Economics

Thailand drops to 40th in WEF Global Competitiveness Report

Thailand’s competitiveness ranking has dropped two spots from 38th to 40th in the World Economic Forum’s Global Competitiveness Index rankings for 2019

Olivier Languepin

Published

on

Thailand is the 40 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum.

(more…)

Continue Reading

Economics

Fitch Ratings raises Thailand’s outlook to positive

Most countries’ ratings have been downgraded, while the agency sees that the Thai economy and its fiscal status remain strong as the country’s debt-to-GDP ratio stands at 40 to 42%

Boris Sullivan

Published

on

Industry Ministry discussed Thai Baht currency control measures with central bank

Investors who plan to establish a business in a foreign country usually examine its credit rating first. Fitch Ratings, an international credit rating agency, has recently raised Thailand’s outlook to positive amid the global economic slowdown.

(more…)

Continue Reading

Most Read

Upcoming Events

Mon 21

34th International Conference on Dental and Oral Health

October 21 @ 9:00 am - October 22 @ 5:00 pm BMT
Nov 06

2nd World Congress on Pediatrics and Child care

November 6 @ 8:00 am - November 7 @ 7:00 pm BMT
Radisson Hotel Narita
Tomisato-shi
Nov 07

3rd World Congress On Gynecology, Obstetrics & Reproductive Health

November 7 @ 9:00 am - November 8 @ 4:00 pm BMT

Press Release

Subscribe via Email

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

Join 11,595 other subscribers

Trending