Connect with us
CGIF-10th-Year-Anniversary

Economics

Bank of Thailand projects 2.8% economic growth for 2020

The overall national economic growth in 2020 is now projected to be 2.8% from the anticipated recovery of the export and investment figures

National News Bureau of Thailand

Published

on

The Bank of Thailand has announced a 2.8% growth projection for the Thai economy in 2020 thanks to a better performing export sector.

Meanwhile the country’s economic performance in November 2019 is still in a slowdown due to declining export figures affected by economic slowdowns among trading partners.

The Bank of Thailand’s economic analysis bureau has released updated economic projections where Thailand’s export sector would result in negative 3.3 percent growth, causing goods import, industrial manufacturing, and private investment indicators to be in decline.

The government’s general and investment expenditures have also declined, while government measures have partially maintained the general public’s purchasing power.

The tourism sector has shown continuous growth, contributing as a major driver in national economic recovery, with this year’s overall economic performance expected to show 2.5 percent growth.

The overall national economic growth in 2020 is now projected to be 2.8% from the anticipated recovery of the export and investment figures. The global economy next year is expected to continue to see fluctuations, however analysts expect global trade to gradually improve following expected clarity from trade negotiations.

Government investments for 2020 are expected to fully commence in February after the approval of the fiscal year 2020 budget bill by the parliament. The approval will enable government investment projects to fully proceed, helping stimulate spending, and benefiting the domestic economy recovery.

The Bank of Thailand also recommends the private sector increase their investments in keeping with the current economic recovery.

Comments

Economics

96% of Foreign Investors still confident in Thailand says BOI

The Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in Thailand, the Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

(more…)
Continue Reading

Economics

Thailand Tops Bloomberg’s Emerging Markets List

Bloomberg surveys show that analysts are penciling in high rates of growth next year for some of those that have been hardest-hit in 2020.

Boris Sullivan

Published

on

Thailand and Russia are well placed to be among the emerging-market standouts that could beat expectations next year, according to a Bloomberg study of 17 developing markets gauging their outlook for 2021.

(more…)
Continue Reading

Economics

COVID-19 pandemic wiped out 81 million jobs in Asia-Pacific countries

Some 81 million jobs lost as COVID-19 creates turmoil in Asia-Pacific labour markets, according to ILO report.

Boris Sullivan

Published

on

Drops in working hours due to the Covid-19 crisis have had a devastating effect on jobs and incomes in Asia and the Pacific according to a new report by the International Labour Organization (ILO).

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

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

Join 13,387 other subscribers

Trending