Govt confident economy will cross 4% growth mark, central bank not so sure
The government is confident the economy will expand no less than 4 per cent next year, said Deputy Prime Minister Supattanapong Punmeechaow.
Supattanapong, who also doubles as energy minister, said the government will continue to seek more measures to lift the economy, which is struggling in the fallout of the Covid-19 pandemic.
Earlier, the Bank of Thailand’s governor Sethaput Suthiwartnarueput said he expected economic growth next year to be below 4 per cent as the tourism and export sectors may not recover fully.
Speaking at a separate event, Sethaphut said the bank was ready to control the rising baht to mitigate the impact on the export sector as well as execute a monetary policy to support economic growth.
Economic growth this year is expected to be better than the earlier estimate of minus 8 per cent, he said, adding that the bank will revise its growth forecast for 2020.
He said growth next year will be less than 4 per cent as the number of foreign tourists is unlikely to reach the previously estimated 9 million.
However, he expects the figures for consumption to enter the positive territory next year.
Earlier, the Joint Standing Committee on Commerce, Industry and Banking predicted that the Thai economy will grow 2 to 4 per cent next year, while exports will grow 3 to 5 per cent.
