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Thai economy seen growing 4% next year on improving consumption - Finance Minister

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Thai economy seen growing 4% next year on improving consumption - Finance Minister

 

2020-11-23T090059Z_1_LYNXMPEGAM0EF_RTROPTP_4_BRITAIN-RETAIL-MONKEY-LABOUR-THAILAND.JPG

FILE PHOTO: A woman shops coconut products at a supermarket in Bangkok, Thailand, July 6, 2020. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's economy is expected to grow 4% in 2021 after a 6% contraction projected for this year, due to improving domestic consumption, the finance minister said on Monday.

 

Fiscal policy should provide more support for the tourism-reliant economy and the budget for the next fiscal year will focus on boosting domestic activity, Finance minister Arkhom Termpittayapaisith told a business forum.

 

reuters_logo.jpg

-- © Copyright Reuters 2020-11-23
 
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8 minutes ago, snoop1130 said:

Thailand's economy is expected to grow 4% in 2021 after a 6% contraction projected for this year,

that means they still in the Red (contraction) by 2% , nothing to brag about then

Not only will the consumption be growing with the assistance of the governments 150 baht per day handout to a max of 3000 baht, but so will the waistlines.....yes sarcasm.

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.... and where exactly should the money come to support this assumption? 

I see a rather bleak 2021, 2022 and 2023 - that's my crystal ball speaking to me, me thinks! 

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You can’t spend what you don’t have—unless you use a credit card or mortgage your property.

Not according to Trading Economics Forecasts, try about 1.5% in 2021.

 

https://tradingeconomics.com/thailand/gdp-growth

.4% (point-4%) seems more likely, but the place never has been much on accuracy...or honesty. 

On 11/23/2020 at 10:24 AM, snoop1130 said:

, due to improving domestic consumption

 

Consumption .! Isn't that an olde worlde ailment that went out with rickets .. 

On 11/23/2020 at 12:34 PM, Mavideol said:

that means they still in the Red (contraction) by 2% , nothing to brag about then

Being pedantic, actually worse than that - works out as a 2.24% fall from the original baseline.

On 11/23/2020 at 5:34 PM, Mavideol said:

that means they still in the Red (contraction) by 2% , nothing to brag about then

2% contraction makes this a better forecast than--: America--Australia -- Britain. Or any other E.U country..

But it is just that...a Forecast.  Thailand has not always been correct in its forecasts.

 

Chart: COVID-19 Wreaks Economic Havoc Across Europe | Statista

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