SMEs expect GDP growth of 3.28% next year, survey finds
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Small and medium-sized enterprises believe that next year's economy under the military regime will perform better than this year with growth of 3.28 per cent, according to a survey by Dhurakij Pundit University.
The DPU’s survey was conducted from October 25 to November 6 with a sample size of 816 enterprises in 12 provinces. Respondents were asked about their views on the Thai economy, their business performances, and their business plans for next year. They were also asked to rate, on a scale of 1 to 10, the performance of the current government.
Almost half of the respondents (48.2 per cent) said they expected the economy would perform better, while 41.1 per cent said it would be about the same as this year. Only 2.8 per cent said things would be getting worse, while 7.9 per cent were uncertain.
Those who said the economy would perform better were asked to provide their forecasts on the growth of gross domestic product. On average, they expected growth of 3.28 per cent next year.
The survey found that investment in information technology, efficiency improvement and machinery were the respondents’ priorities. They would focus on e-marketing to expand their domestic as well as international customer bases. Spending on personnel would focus on improving quality of service, transport, and marketing.
Asked about their business performances in the second half of this year compared with the first half, 11.3 per cent said their profit would see an increase; 41 per cent said they would see no growth; 34.5 per cent foresaw poorer performance in the second half; and 13.2 per cent said their businesses would incur some losses.
When asked about their views on the economy in the third quarter compared with the second, 41.1 per cent said it was worse than expected while 34.2 per cent said it was better, and 24.7 per cent said it was about the same as expected.
On their expectations about the economy in the fourth quarter compared with the third, most (71.6 per cent) said they expected that it would be the same, while 11.5 per cent said it would be better and 10.2 per cent believed it would be worse; 6.7 per cent were uncertain.
Kiatanantha Lounkaew, assistant to the vice president for the DPU Research Centre, said respondents were also asked to rate, on a scale of 1 to 10, the performance of the current government on the following three aspects: first,
economic; second, political; and third, educational, social and environmental-preservation performance.
Overall economic performance received a score of 8.2. The three sub-items that enjoyed the highest ratings were clarity of economic policy (8.9 points); management of public funds (8.6); and improving confidence in the economy (8.5).
Political performance, on average, received a rating of 8.1 points. The top three sub-items were promoting harmony among various interest groups (8.9); being receptive to ideas (8.4); and strict enforcement of the law (7.8 points).
Performance on education, social aspects and environmental preservation received an average rating of 7.0 points. The top three sub-items were community safety (7.9); promoting family values (7.5); and promoting Thai values (7.2). Improvement in the quality of education received the lowest rating, with 5.2 points.
