BoT keeps an eye on changing criteria “Digital Wallet” results in 2024 GDP growth of less than 4.4%.

Kanchanaburi Governor of the BoT reveals that if "Digital Wallet" uses a budget of less than 560 billion baht, GDP in 2024 will grow less than 4.4%, keeping an eye on problems in the Middle East that will affect the world economy.

Mr. Setthaput Suthiwatnarueput The Governor of the Bank of Thailand (BoT) revealed the overall picture of the Thai economy in 2024, which is estimated to have GDP growth of 4.4%, including the factor of the policy of giving away digital wallets of 10,000 baht. for Thai people aged 16 years and over who will use the limit of 560 billion baht, but if the implementation of the said policy does not use the limit at the level of 560 billion baht, it is accepted that GDP It may be lower than 4.4%, but the exact number cannot be assessed yet. We still have to wait for details and clarity on adjusting various criteria again.

As for the overall economy, this year expanded by 2.7-2.8%, which is in the recovery period. May be positive or negative at similar levels But some numbers for the third quarter came out slower than expected. But there are some that can recover. like the consumption sector that expanded strongly in all 3 quarters Tourist numbers are still as expected, while the Industrial Production Index looks weaker than expected.

As for the risk factors for the global economy, they still continue. Especially new risks including problems in the Middle East makes it difficult to evaluate Because there are many side effects. This has caused the world stage to adjust policies that emphasize stability as the main focus.

Domestic factors Overall economic stability is good. But I can't be complacent. This is because household debt is still a concern at 90.7%, even though it has dropped from 94%, and the public debt-to-GDP ratio is 61.7%, considered the highest level ever. and higher than during the Tom Yum Kung crisis of 1997, so these are two matters that need to be careful and closely followed. - Thai News Agency

Source: Thai News Agency