JSCCIB expects stagnant growth in second half of 2019

 

   

BANGKOK, 5 September 2019(NNT) - The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has expressed its concerns about the Thai economy in the rest of this year as it lacks stimulation factors, along with the baht’s appreciation which affects exports and reduces opportunities for this year’s economy to grow as forecast.

 

The JSCCIB’s meeting opined that the Thai economy during the rest of the year will be subject to pressure from foreign countries caused by the global economic slowdown, the trade war and baht’s appreciation. These factors will slow down Thailand’s exports. Meanwhile, internal factors arise from the drought situation and flooding in many provinces.

 

The government’s economic stimulus package and crop price guarantee policy should compensate for the effects of many of the pressures mentioned. As for the government’s plan to introduce measures to attract investment to lessen the impact of the trade war, they still require time to have an effect and it is necessary to have enough motivation both in terms of development of infrastructure, and currency.

 

The JSCCIB is especially concerned about the baht’s appreciation as the baht is likely to appreciate further if the US Federal Reserve cuts interest rates again and this would reduce the competiveness of Thai exports.

 

There is a chance that this year The Thai economy will expand at a lower rate than expected at 2.9-3.3 percent. Therefore, the JSCCIB has called on the government to take measures to quickly handle the baht’s appreciation as well as speed up the unlocking of regulations that remain a problem for exports. The JSCCIB will review the economic forecast again next month.

 

-- © Copyright NNT 2019-09-05

Follow Thaivisa on LINE for breaking Thailand news and visa info

2 hours ago, webfact said:

the Thai economy in the rest of this year as it lacks stimulation factors,

i am stimulating as much as i can, but its like a endless sea. 

 

there is only so many i can do.

Time for the Casino's ,and a new hub .BABY..

22 hours ago, webfact said:

There is a chance that this year The Thai economy will expand at a lower rate than expected at 2.9-3.3 percent.

There is also a chance it will contract to less than 2.5% GDP growth rate.