webfact Posted September 10, 2019 Share Posted September 10, 2019 UTCC’s confidence index in Thailand drops to lowest in 19 months By The Nation The University of the Thai Chamber of Commerce (UTCC) Centre for Business and Economic Forecasting has announced that the confidence index has dropped to 46.5 points, the lowest in 19 months. Thanawan Polvichai, the centre’s director, said entrepreneurs are facing cashflow problems as people’s purchasing power has dropped. The economy is also being affected by the ongoing US-China trade war, a fluctuating baht as well as low prices for agricultural products. However, he said, the private sector believes the lowest point has passed after the economy grew by 2.3 per cent in the second quarter, the lowest growth figure in five years. He added that stimulus packages and agriculture price guarantees should help revive the economy. “The agriculture price guarantee project should determine whether the economy will recover,” he said. “The money that rubber, rice and palm farmers get will help them plan their finances. In the past four or five years, there were no schemes like this, which is what caused uncertainty in the income of farmers.” The centre has forecast that the Thai economy will expand by 2.6 per cent in 2019, but additional economic stimulus and guarantee schemes may push the figure to 3 to 3.2 per cent. Saowanee Thairoongroj, UTCC’s dean, said the private sector wants the government to initiate stimulus packages as swiftly as well as strengthen measures for natural disasters, boost the quality of Thai products for export, provide low-interest loans to businesses to help them maintain their cashflow and develop technology. Source: https://www.nationthailand.com/business/30376046 -- © Copyright The Nation Thailand 2019-09-11 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
legend49 Posted September 11, 2019 Share Posted September 11, 2019 LOL this posting states the truth ask any Thai in business, nobody is buying anything. Yet 5 other postings today everything is booming; you cant lie every day? 2 Link to comment Share on other sites More sharing options...
Chrisswe Posted September 11, 2019 Share Posted September 11, 2019 SURE, WHEN THEY TRY TO RUN THE COUNTRY WITH TEMPORARY SOLUTIONS !!!! Link to comment Share on other sites More sharing options...
bert bloggs Posted September 11, 2019 Share Posted September 11, 2019 My wife bought some food yesterday from a lady that she had not seen for at least 6/7 months in a busy part of Pattaya ,afterwards we were talking and she mentioned that the woman said she had never ever known things so bad,she was hardly making enough to live these days , only a few weeks ago one of her running club had also asked her where all the falangs were ,as his business had gone way down ,and that also thai people were not spending either times seem to be getting harder 2 Link to comment Share on other sites More sharing options...
RichardColeman Posted September 11, 2019 Share Posted September 11, 2019 7 hours ago, webfact said: The centre has forecast that the Thai economy will expand by 2.6 per cent in 2019, but additional economic stimulus and guarantee schemes may push the figure to 3 to 3.2 per cent. They later went on to confirm that the baht would be scraped with the introduction as Twiglets as the new currency. Link to comment Share on other sites More sharing options...
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