Post by account_disabled on Jan 2, 2024 2:45:28 GMT -3
Mr. Predee Daochai, President of the Thai Bankers Association, as chairman of the meeting of the joint committee of 3 private sector institutions (CPF), revealed that the meeting assessed the outlook for the Thai economy in the second half of the year, which still faces challenges from the trade war between China. -The risk of the United States will become more serious, along with the strengthening of the baht, which will put pressure on the direction of the economy to tend to slow down. The FTI forecasts that the Thai economy in the second quarter of 2019 will expand less than the first quarter. Expanded by 2.8%. It can be seen from the Thai economy that both exports and domestic spending show signs of continued weakening.
For the rest of C Level Executive List this year, we must rely on domestic spending. Issuing measures to stimulate short-term spending from the government to build confidence in the private sector. Including mitigating the effects of drought conditions. The worst-case economic picture has not yet been assessed. Requesting time to closely monitor the situation of uncertainty from many factors both domestically and abroad within 3 months in order to reassess the direction of adjustment of Thai economic indicators. Accept that if the situation is more severe than expected Exports that are expected to be negative 1% may not be able to stand,” Mr. Pridi said.
The FTI still estimates the economic growth rate (GDP) this year for the entire year is expected to grow at 2.9-3.3% from last year's growth of 4.1%. Exports are expected to be negative 1% or expand only 1%. From last year's growth of 6.9%, inflation is expected to grow 0.8-1-2%. Mr. Suphan Mongkolsuthi, Chairman of the Federation of Thai Industries (FTI), said that on August 8, the Federation of Thai Industries will meet with Mr. Veerathai Santiprabhob, Governor of the Bank of Thailand (BoT), to discuss guidelines. Taking care of the currently strengthening baht so that it does not affect the Thai exports, including guidelines for promoting the use of local currencies for trading among others in the region To reduce the impact from fluctuating exchange rates Mr. Kalin Sarasin, President of the Thai Chamber of Commerce, said that the Chamber of Commerce is scheduled to meet with the BoT on August 8th and on behalf of the joint public-private sector committee.
For the rest of C Level Executive List this year, we must rely on domestic spending. Issuing measures to stimulate short-term spending from the government to build confidence in the private sector. Including mitigating the effects of drought conditions. The worst-case economic picture has not yet been assessed. Requesting time to closely monitor the situation of uncertainty from many factors both domestically and abroad within 3 months in order to reassess the direction of adjustment of Thai economic indicators. Accept that if the situation is more severe than expected Exports that are expected to be negative 1% may not be able to stand,” Mr. Pridi said.
The FTI still estimates the economic growth rate (GDP) this year for the entire year is expected to grow at 2.9-3.3% from last year's growth of 4.1%. Exports are expected to be negative 1% or expand only 1%. From last year's growth of 6.9%, inflation is expected to grow 0.8-1-2%. Mr. Suphan Mongkolsuthi, Chairman of the Federation of Thai Industries (FTI), said that on August 8, the Federation of Thai Industries will meet with Mr. Veerathai Santiprabhob, Governor of the Bank of Thailand (BoT), to discuss guidelines. Taking care of the currently strengthening baht so that it does not affect the Thai exports, including guidelines for promoting the use of local currencies for trading among others in the region To reduce the impact from fluctuating exchange rates Mr. Kalin Sarasin, President of the Thai Chamber of Commerce, said that the Chamber of Commerce is scheduled to meet with the BoT on August 8th and on behalf of the joint public-private sector committee.