FRIDAY, March 29, 2024
nationthailand

GSB predicts economic growth next year to lag behind 2019 

GSB predicts economic growth next year to lag behind 2019 

Thailand’s economy will grow by up to 3.6 per cent this year, at a slower pace than last year due to the negative impact from the trade war between the US and China and the strong baht, according to the latest report by the Government Savings Bank on Thursday (July 25).


GSB president and chief executive officer Chatchat Payuhanaveechai said the bank has also forecast the country’s economic growth at 3.5 per cent in 2020.
The main factor that will drive the country to achieve 3.6 per cent growth this year will be the new government’s investments in developing the country’s infrastructure and stimulus measures to improve the purchasing power of lower-income people.
The bank said Thailand still faces business risks from the US-China trade war, the slowdown in the global economy, decline in Chinese purchasing power to buy property due to that country’s declining growth and the high household debt that will directly impact purchasing power, he said.

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