19 Aug 2024 Thai Economy Thai economy expanded by 2.3% YoY in 2Q24; full-year 2024 growth forecast of KResearch remains at 2.6%, depending on government economic measures. (Business Brief No.4079 Full Ed.) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star Thai economy expanded by 2.3% YoY in 2Q24; full-year 2024 growth forecast of KResearch remains at 2.6%, depending on government economic measures.Thailand’s economy grew by 2.3 percent YoY in 2Q24, driven by a higher trade surplus due to better-than-expected exports, coupled with robust private consumption. Government spending remained below expectations, especially public investment which continued to contract despite accelerated budgetary disbursements compared to the previous quarter, while public consumption expanded less than anticipated. Additionally, private investment contracted more than expected, particularly in the construction and automotive sectors. As a result, investment outlook for 2024 is less promising than previously anticipated.The uncertainty surrounding Thailand’s economic direction in 2H24 hinges on government economic measures and the 2025 fiscal budget. If the scale of economic stimulus measures remains largely unchanged compared to the digital wallet handout scheme, and if the 2025 fiscal budget bill is enacted by October 1, 2024, the country’s economy is expected to expand by 2.6 percent this year. However, if government stimulus measures are delayed and no alternative measures are introduced in 4Q24, and if the enactment of the 2025 budget bill is delayed by more than one month, Thailand’s economic outlook for 2024 may face increased downside risks, with a lower bound estimate of 2.2 percent. Thus far, the likelihood of this scenario remains low. View full article Login / Register Or Enter the code from the poll Annotation This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow. Thai Economy GDP Related Analysis View all 12 Mar 2018 Thai Economy Households are Cautious about Spending in 1Q18 According to a survey on household economic conditions for February, views of Thai households across the country toward economic conditions and the cost of living over the next three months remained unchanged. This is reflected in the 3-month Expected KR-ECI that was static at 47.1 in February. Households still had positive views toward income and employment, given the daily minimum wage rise slated for April 2018, while prices of some key agricultural produce, namely “Hom Mali” rice and cassava, have begun to increase. However, households were concerned about growing debt.... Read more 0 KB 0 KB 19 Feb 2018 Thai Economy Thai economy continues to grow in 2018 Growth of 4.0% is expected (Business Brief No.3727) The Thai economy in 4Q17 was buoyed by high growth in exports and tourism, while household consumption started to improve compared to... Read more 0 KB 0 KB 9 Feb 2018 Thai Economy Official launch of EEC: Key to Thailand’s Economic Development (Current Issue No. 2899 Full Ed.) The National Legislative Assembly (NLA) has approved the Eastern Economic Corridor (EEC) bill which is expected to boost investor confidence in large-scale, long-term investments by providing private investors additional incentives, namely non-tax privileges and a speedier process for licensing, in addition to the government's efforts to promote EEC investment through infrastructure projects and tax incentives. ... Read more 0 KB 0 KB 22 Jan 2018 Thai Economy Thai Household Debt May Fall to 77-78% of GDP in 2018 (Current Issue No. 2896) In 3Q17, Thailand's household debt fell from 78.4 percent of GDP – as recorded in 2Q17 – to 78.3 percent of GDP, which could be the res... Read more 0 KB 0 KB 18 Jan 2018 Thai Economy Economy Likely Unfazed by THB5-22 Daily Minimum Wage Hikes Nationwide (Business Brief No.3722 Full Ed.) The National Wage Committee recently agreed to raise the daily minimum wage to THB315.97, on average, or a range of THB308-330 across the... Read more 0 KB 0 KB 12 Jan 2018 Thai Economy Household sentiment toward economy continues to improve for 3 straight months, sending positive signal for private consumption in 1Q18 ... Read more 0 KB 0 KB View all