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Economics

Thailand’s 2019 Forecast Cut to 2.6% as Q3 GDP slows to 0.1%

On an annual basis, gross domestic product (GDP) rose 2.4% in the third quarter, less than the forecast 2.6%.

Boris Sullivan

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Thailand’s economy grew at its slowest quarterly rate in a year in the third quarter, leading the government to cut this year’s growth estimate once again.

The National Economic and Social Development Council (NESDC) cut its 2019 GDP forecast to 2.6% – from an earlier view of 2.7%-3.2% – and said growth should accelerate to 2.7%-3.7% next year.

Southeast Asia’s second-largest economy expanded 0.1% on a seasonally adjusted basis, the NESDC said.

Thailand’s export-reliant economy has been hit by slumping exports and a surging currency, leading the central bank earlier this month to cut its benchmark interest rate to a record low.

On an annual basis, gross domestic product (GDP) rose 2.4% in the third quarter, less than the forecast 2.6%. In April-June, growth was just 2.3%, the weakest pace in nearly five years.

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Economics

Productivity is Key to Thailand’s Growth and Prosperity, says World Bank

The Thai economy is projected to pick up moderately to 2.7 percent in 2020 as private consumption recovers and investment picks up due to the implementation of large public infrastructure projects.

World Bank

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Thailand’s growth slowed to an estimated 2.5 percent in 2019 from 4.1 percent in 2018, due to external and domestic factors.

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Economics

Thailand plans One trillion baht state budget to stimulate economy

Deputy Prime Minister, Dr. Somkid Jatusripitak, said that about 1 trillion baht of the government’s budget will be spent to stimulate the Thai economy.

Boris Sullivan

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Thai premier holds meeting on 2020 Budget

BANGKOK (NNT) – The ongoing trade war between the United States and China and a delay in state spending have added uncertainty to the country’s economic outlook.

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Economics

Investment promotion requests exceeded 750bn baht in 2019

An impressive 59% was in the Eastern Economic Corridor, with China outreaching Japan to become the biggest international investor in Thailand.

National News Bureau of Thailand

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Bangsue railway station

BANGKOK (NNT) – Thailand remained an investment destination for international investors last year, as reflected in the overall value of investment promotion requests in 2019, released by the Board of Investment (BOI) today, which exceed a 750 billion baht goal.

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