Central Bank Foresees 3.3% GDP Growth

[snoop1130]

 

BANGKOK, July 22 (TNA) – The governor of the Bank of Thailand (BOT) expects the gross domestic product will increase by 3.3% this year and 4.2% next year while the number of visitors is rising faster than anticipated and should reach 6 million throughout this year.

 

During his “Meet the Press” session focusing on economic recovery solutions, BOT governor Sethaput Suthiwartnarueput said the Thai economic recovery became clearer but had not happened to all sectors. He assumed that there will be about 2.5 million people in the country who are unemployed and underemployed this year.

 

Full Story: https://tna.mcot.net/english-news-984105

 

-- © Copyright Thai News Agency 2022-07-22

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[ThailandRyan]

So this guy thinks 6 million visitors by years end compared to the 10 million in another OP running.  I only see the GDP rising to maybe 2% by years end, but then that's debatable.

[StayinThailand2much]

1 hour ago, ThailandRyan said:

So this guy thinks 6 million visitors by years end compared to the 10 million in another OP running.  I only see the GDP rising to maybe 2% by years end, but then that's debatable.

Business in Bangkok not back to 2019 levels. Way less shops, many closed for good, plenty of homeless people, and money in general tight. I think, 3.3% GDP growth for this year is very optimistic, and 4.2% for next year would require a number of positive developments for Thailand. It's probably hard to predict with confidence; it could as well be 0.42%, or more than 4.2%.

Edited July 22, 2022 by StayinThailand2much

[ThailandRyan]

7 minutes ago, StayinThailand2much said:

Business in Bangkok not back to 2019 levels. Way less shops, many closed for good, plenty of homeless people, and money in general tight. I think, 3.3% GDP growth for this year is very optimistic, and 4.2% for next year would require a number of positive developments for Thailand. It's probably hard to predict with confidence; it could as well be 0.42%, or more than 4.2%.

Went out on the town tonight here in BKK for our anniversary dinner.  Had a great dinner, restaurant was full, Took the MRT back to Asoke and Nana, just returned home, a Friday night devoid of any true nightlife. Maybe because of the rain.

[smedly]

3.3% growth measured against what - a 20% decline ?

 

it means nothing

 

household debt and the banks exposure is more interesting

[mania]

10 hours ago, snoop1130 said:

The governor of the Bank of Thailand (BOT) expects the gross domestic product will increase by 3.3% this year and 4.2% next year

I think they might have a faulty crystal ball

[whiteman]

Thailand the land of Dreamers

[Isaan sailor]

All about the Baht.  Jack it up—economy slumps.  Bring it down—economy takes off.  It’s not rocket science.

Edited July 23, 2022 by Isaan sailor

[ThailandRyan]

19 minutes ago, Isaan sailor said:

All about the Baht.  Jack it up—economy slumps.  Bring it down—economy takes off.  It’s not rocket science.

But that would mean the Hi-So's would be loosing money from their investments, yet they would be making millions more from those buying their items at their places of business.

[jacko45k]

22 minutes ago, Isaan sailor said:

All about the Baht.  Jack it up—economy slumps.  Bring it down—economy takes off.  It’s not rocket science.

Oh were it so simple......

[RichardColeman]

12 hours ago, ThailandRyan said:

So this guy thinks 6 million visitors by years end compared to the 10 million in another OP running.  I only see the GDP rising to maybe 2% by years end, but then that's debatable.

I agree, 2-2.75% this year and maybe 5-7% next year. This years tourism will bring some respite , but next year - providing the airlines return in full - will atleast double this years GDP

[sawadee1947]

Thailand.......a hub of clairvoyants. ????

[ThailandRyan]

37 minutes ago, sawadee1947 said:

Thailand.......a hub of clairvoyants. ????

Hub of Magic 8 Ball users.

[JonnyF]

Well they are starting from a low baseline given last year.

 

I think domestic spending will be low. Many people up to their eyeballs in debt after borrowing their way through the last 2 years.

 

Tourism will increase. I was out last night and saw lots of signs of that picking up (between Asoke and Nana). I think I preferred it without the tourists tbh.