World Bank Downgrades Thai Economic Growth Forecast

[snoop1130]

 

BANGKOK, Oct 2 (TNA) – The World Bank has released a report in October, revising down its economic growth forecast for Thailand this year to 3.4%, reflecting a slower recovery compared to other countries in the ASEAN region.

 

The World Bank has adjusted its growth projections downward for developing countries in the East Asia and Pacific region due to the continued slowdown of China’s economy and global uncertainties, such as high interest rates and sluggish trade.

 

For Thailand, the economy continues to recover at a slower pace compared to its ASEAN counterparts, and reduced exports pose challenges for the Thai economy.

 

Full story: Thai News Agency 2023-10-02

 

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[observer90210]

Since the debut of the war in Ukraine, there is a global recession due to the US sanctions.

 

Either by the direct consequences or collateral consequences of the sanctions.

[RanongCat]

Very likely a correct assessment albeit biased due to behind scenarios of previous expectations of status quo  "arrangements".

But that will only be in relative comparison to the collective assessments of global forecasts.

What is denied in informational equations is the negative birth replacement rates in the most developed populations facing rampant inflation, influx of dependent refugees created by the  distortion and extraction of disproportionate wealth by an elitist minority who possess the financial capacity to purchase or sell soul in lieu of for sufficient influence in service of .

"elected" Officials have no fear of financial or social insecurity within the  community that has empowered them at least  for the term of elected  office. That term is too often spent on  destroying potential challenge  for next  election cycle rather than fulfilling political promises that were never intended or even viable at time of utterance !

 

 

 

[WhatMeWorry]

1 hour ago, RanongCat said:

Very likely a correct assessment albeit biased due to behind scenarios of previous expectations of status quo  "arrangements".

But that will only be in relative comparison to the collective assessments of global forecasts.

What is denied in informational equations is the negative birth replacement rates in the most developed populations facing rampant inflation, influx of dependent refugees created by the  distortion and extraction of disproportionate wealth by an elitist minority who possess the financial capacity to purchase or sell soul in lieu of for sufficient influence in service of .

"elected" Officials have no fear of financial or social insecurity within the  community that has empowered them at least  for the term of elected  office. That term is too often spent on  destroying potential challenge  for next  election cycle rather than fulfilling political promises that were never intended or even viable at time of utterance !

 

 

 

That word salad was painful to read. My eyes are watering.

[aldriglikvid]

2 hours ago, observer90210 said:

Since the debut of the war in Ukraine, there is a global recession due to the US sanctions.

 

Either by the direct consequences or collateral consequences of the sanctions.

Terrible take

[RichardColeman]

Considering Thailand had like no growth from covid and no tourists, and now have a fabled 20-30 million tourists, one would have to assume that the rest of the economy and exports is an undeclared  total write off !

[hotchilli]

11 hours ago, snoop1130 said:

revising down its economic growth forecast for Thailand this year to 3.4%, reflecting a slower recovery compared to other countries in the ASEAN region.

The political fiasco didn't help one bit.

[soalbundy]

3.4%, take it and run, a European country would be screaming 'recovery at last' from the roof tops with this amount of expansion.

[nobodysfriend]

13 hours ago, snoop1130 said:

revising down its economic growth forecast for Thailand this year to 3.4%,

So what ?

3.4% is still good in the eyes of economists ...?

But the fault is in a system that is based on steady economic growth at a time when the resources are nearly extinguished , and the damage done by the eternal desire to more growth outweighs the benefits of it .

Why fear a recession ( if you're not invested in the stock market ) ?

Eternal growth is neither possible  nor sustainable .

It leads to a crash and a reboot following ... but at this time . the damage has been done already .

[bamnutsak]

I think the BoT upped their 2024 forecast from 3.8% to 4.4%.

 

The BoT Governor and the new PM had a sit-down yesterday. It is assumed that Srettha wants to dump Sethaput, but that might have additional negative implications.

 

I'm not sure it was wise for the PM to name himself Minister of Finance?

 

 

[Cake Monster]

As with all these forecasts on the Thai Economy ( and over the last few weeks there have been many - all downgrading ), they are made with Data received from various sources many of which are Governmental, and most of  which will be from Data at least 3-4 Months old

With the recent flurry ( almost blind panic ) to reduce the Household Debt and all these downgrades Etc, as well as the SET only today being downgraded, I am starting to wonder just how serious the Thai financial status really is.

[Srikcir]

18 hours ago, observer90210 said:

there is a global recession due to the US sanctions.

US sanctions (I assume you mean against Russia) are part of GLOBAL sanctions by a large number of countries around the world but notably lacking from Asia. The EU and Eastern Europe in effect applied their sanctions in part against themselves from Russian energy imports blackmail. They traded prosperity for democracy.

[MrJ2U]

18 hours ago, observer90210 said:

Since the debut of the war in Ukraine, there is a global recession due to the US sanctions.

 

Either by the direct consequences or collateral consequences of the sanctions.

Definitely blame the Russian's for invading a sovereign nation.

 

Imagine if these ruthless tyrants succeed, they'll be using not only oil but food as a weapon! 

[BritScot]

34 minutes ago, MrJ2U said:

Definitely blame the Russian's for invading a sovereign nation.

 

Imagine if these ruthless tyrants succeed, they'll be using not only oil but food as a weapon! 

Try reading more. NATO pushed Russia into a corner. This all could have been stopped by a treaty and was about to be until the war junkies sent in their flunkie BoJo to scupper it. Read, then read more. Look at all sides then conclude.

[Trippy]

.

[MrJ2U]

2 hours ago, BritScot said:

Try reading more. NATO pushed Russia into a corner. This all could have been stopped by a treaty and was about to be until the war junkies sent in their flunkie BoJo to scupper it. Read, then read more. Look at all sides then conclude.

Another pro Russian vlogger. 

 

Clueless. 

[MrJ2U]

2 hours ago, BritScot said:

Read, then read more. Look at all sides then conclude

Hopefully this enlightens you.

 

"WEAKNESS IS LETHAL: WHY PUTIN INVADED UKRAINE AND HOW THE WAR MUST END"

Oct 1, 2023 - ISW Press

 

https://www.understandingwar.org/backgrounder/weakness-lethal-why-putin-invaded-ukraine-and-how-war-must-end

 

 

[CharlieKo]

19 minutes ago, MrJ2U said:

Another pro Russian vlogger. 

 

Clueless. 

If you actually took the time to educate yourself, you would realise there is some truth in the fact that Russia was pushed into invading Ukraine. Rather than making silly "another Russian vlogger" comment! It's actually a posted comment, not a vlogg. Try getting it right?

[Elkski]

10 minutes ago, CharlieKo said:

If you actually took the time to educate yourself, you would realise there is some truth in the fact that Russia was pushed into invading Ukraine. Rather than making silly "another Russian vlogger" comment! It's actually a posted comment, not a vlogg. Try getting it right?

Yes Russia was  forced to rape and pilage Ukraine.  Not.    I think this has strengthened NATO at the least   

Putin misjudged many things.  I wonder how much he has to pay his food taster? 

[MrJ2U]

44 minutes ago, CharlieKo said:

If you actually took the time to educate yourself, you would realise there is some truth in the fact that Russia was pushed into invading Ukraine. Rather than making silly "another Russian vlogger" comment! It's actually a posted comment, not a vlogg. Try getting it right?

Complete nonsense.

 

The sickening thing is you actually believe the bu***it you're writing.

 

Utterly clueless! 

[CharlieKo]

44 minutes ago, MrJ2U said:

Complete nonsense.

 

The sickening thing is you actually believe the bu***it you're writing.

 

Utterly clueless! 

History will prove you are the clueless one!

[MrJ2U]

12 minutes ago, CharlieKo said:

History will prove you are the clueless one!

Ok Stalin.