28 Sep 2022
Thai Economy
KResearch maintains GDP growth projection for 2022 at 2.9 percent and a projected range of 3.2-4.2 percent for 2023; hopes pinned on tourism to mitigate impacts of economic recession among Thailand’s partners ... Read more
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31 Jan 2020
New risks to the Thai economy have been seen. These include the novel coronavirus outbreak, which will likely hurt tourism receipts and a likelihood that the enforcement of the 2020 Budget Act will be delayed, thus preventing the government to use fiscal tools to fully steer the Thai economy. In addition, drought is dampening farm income while the government’s investment budget is being held up due to the delayed 2050 fiscal budget. ... Read more
18 Nov 2019
The Thai economic performance remained lackluster in 3Q19 due to a number of factors. These include the anemic global economy, partly as a result of the prolonged trade war, while the strong Baht continued to undermine the pricing competitiveness of Thai exports amid limited growth in public and private investment. However, household spending continued to support the Thai economy. Looking into 4Q19, we at KResearch expect that the Thai economy will exhibit almost the same picture as in 3Q19, though it will likely be driven by additional economic stimuli introduced by the government, with the aim of sustaining household spending, and steady recovery in the number of international tourist arrivals overall. As a result, 4Q19 GDP will likely improve over that seen in 3Q19, but this may not be sufficient to support 2019 economy to grow on a par with our prior estimate of 2.8 percent. We are of the view that 2019 GDP growth may lean towards the lower end of our projection band at not less than 2.5 percent.... Read more
20 Aug 2019
Thai GDP growth in 2019 may slide below initial projections of 3.1%, while external risk factors may prompt the government to implement more stimulus to boost growth (Business Brief No.3814)... Read more