Bangkok, 6 June 2019 (NNT) – As for the economic situation, the meeting of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) forecasts that the delay in the government establishment will affect the expenditure budget for the year 2020.

The contracted exports will also affect the economy in the second half of the year. Therefore the JSCCIB will review the overview of the Thai economy this year the next month.

The meeting of the JSCCIB, therefore, prepares to revise the Thai economic forecast this year next month after the end of the second quarter when the political situation should be clearer.

The likely prolonged trade war problem because the United States may raise tariffs on Chinese products which could affect the export this year, and there is still a political factor from the delayed establishment of a government which will affect the preparation of the annual expenditure budget 2020.

Mr. Predee Daochai, Chairman of the Thai Bankers’ Association (TBA)

Mr. Suphan Mongkholsuthee, Chairman of the Federation of Thai Industries, added that the JSCCIB has prepared a private sector’ economic development proposal for a new government in economic development and also requires the Joint Public-Private Sector Consultative Committee to meet every six months in order to promptly solve problems.

He has urged the new government to roll out tax-oriented stimulus measures to boost the country’s economy. He said the new government should also continue pushing megaprojects which have already been started.

Source link

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand’s consumer confidence index (CCI) at 38-month high

However, the survey also noted that the overall index remained below a normal level of 100, indicating that consumers were still cautious and concerned about some risks and challenges

Fitch sticks to Thailand’s BBB+ rating despite Lingering Political and Fiscal Uncertainty

After the recent general election, political and fiscal uncertainty appears likely to continue to be a short-term drag on Thailand’s credit profile, even though the nation continues to benefit from strong external finances, a sound macroeconomic policy framework, and an economic recovery as tourists start to return, according to Fitch Ratings.

Thailand’s headline inflation lowest in 16 months

The main factors behind the decline in inflation were lower energy and food prices, as well as a high base effect from 2022