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Economics

Kasikorn Research expects Thailand’s GDP to grow 2.6% in 2021

The Thai economy has been showing signs of recovery, thanks to the government’s many stimulus measures and Kasikorn Research Center has predicted that the 2021 GDP will grow 2.6% next year.

National News Bureau of Thailand

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Kasikorn Research Center has predicted that the 2021 GDP will grow 2.6%, suggesting the government to continue its various economic packages which have contributed to the increase in public spending.

Finance Minister expects 4-4.5% growth next year

The Thai economy has been showing signs of recovery, thanks to the government’s many stimulus measures. The Minister of Finance is expecting the Thai economy will grow 4-4.5% next year, however it may take up to 4 years for visitor numbers to recover.

The Minister of Finance Arkhom Termpittayapaisith predicts that Thailand’s tourism sector will start to recover after the successful development and distribution of COVID-19 vaccines globally, with the number of visitors next year expected to be at least 8 million.

He said, however, that by how much the country will reopen to tourists will depend on the public health conditions, adding that it may take until 2024 for tourist numbers to return to 40 million per year.

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Economics

COVID-19 brings first consumer confidence drop in 3 months

Consumer confidence in December 2020 was measured at 50.1 points, down from 52.4 the previous month. Economic confidence was also down to 43.5 from 45.6 points.

National News Bureau of Thailand

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BANGKOK (NNT) – Concerns linked to the new wave of COVID-19 infections has weighed on both daily life and business, resulting in the first drop in the Consumer Confidence Index in 3 months.

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Economics

Thailand’s slow economic recovery

The speed of economic recovery in Thailand has been slower than neighbouring countries such as Malaysia, Vietnam and China, especially in terms of industrial and service output.

East Asia Forum

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Thailand’s economic performance in the third quarter of 2020 showed promising signs of recovery amid the ongoing COVID-19 pandemic.

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Economics

Thai Exports to grow 4% in 2021

Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year.

National News Bureau of Thailand

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BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return to expansion mode, based on signs of economic recuperation globally and the distribution of a vaccine to protect people against COVID-19.

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