Connect with us

Economics

Economic recovery should Continue if no political violence

Published

on

The Bank of Thailand expects a continued economic recovery, based on positive indicators last month, particularly for exports and tourism.

However, any political unrest will be taken into account for next month’s forecast review.

Suchart Sakkankosone, senior director of the BOT’s Domestic Economy Department, said political movements would be closely monitored to determine whether they were affecting the domestic economy.

Central-bank figures show export value increased 31.4 per cent to US$13.63 billion (Bt450 billion) last month, while international tourist arrivals numbered 1.61 million.

The Private Consumption Index also continued its climb towards pre-crisis levels, thanks to higher farm prices and employment and the government's stimulus package.

Private investment was positive for the eighth consecutive month, up 1.4 per cent from last December and 5.2 per cent year on year.

January’s headline inflation expanded 4.1 per cent year on year and 3.5 per cent month on month, due to higher energy and food prices. Core inflation, excluding volatile energy and food prices, rose only 0.6 per cent year on year and 0.3 per cent month on month. Fiscal Policy Office (FPO) director-general Sathit Rangkasiri believes Thailand's first-quarter performance will show an improvement over the fourth quarter's 5.8-per-cent growth rate.

However, he cautioned his optimism was based on assumptions of no political violence. The FPO will review the economic forecast next month.

via Economic recovery to Continue if no political violence.

2 Comments

Leave a Reply

Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

Published

on

Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

(more…)
Continue Reading

Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

Published

on

BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

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

Join 14,162 other subscribers

Wise

Recent