The FTI asks the new government to increase purchasing power and reduce GDP by 2.5-3%.

The FTI moves Thai GDP to expand by 2.5-3 percent, appealing to the new government. Increase purchasing power, accelerate reductions in electricity costs, oil prices, the cause of high living costs. Hurry to open the door to welcome tourists. Visa exemption during high season with China Push the number of travelers into Thailand to 30 million. The Chamber of Commerce is preparing to discuss with the Ministry of Labor tomorrow.

Mr. Phayong Sriwanich, as chairman of the joint committee of the 3 major institutes (FEC), said that the world economy is likely to continue to slow down during the remainder of this year. Especially the slowdown of the Chinese economy. There is an increased risk of debt default and shrinking purchasing power in the real estate sector. Expected GDP of China this year It expanded only 5 percent and is likely to decrease next year, so the world economy is under pressure. As a result, Thai exports still have obstacles in recovering. The FTI therefore adjusted the Thai GDP forecast for this year to expand by 2.5 -3.0 percent, lower than the original forecast of 3-3.5 percent due to the economy in the second quarter. 2 grew only 1.8 percent, much lower than the estimate of 3.1 percent. The industrial sector is very weak. In the same direction as the value of exports has been negative for 10 consecutive months, government spending has continued to shrink due to delayed budget disbursement.

In addition, tourism income was lower than expected because per capita spending by foreign tourists was still 13 percent lower than usual and Thai people's spending per person per trip on domestic travel was lower. Normally around 33 percent, the government should have measures to accelerate the growth of the Thai economy by 3 percent in 2023. It is therefore necessary to accelerate the measures to counter the economy that the government has announced, including reducing the burden of electricity expenses and oil prices. Pushing the number of foreign tourists to no less than 30 million, continuing to drive exports to markets that has a tendency to grow Accelerate the creation of measures to strengthen income for SMEs and households to solve the debt burden thoroughly and sustainably.

The FTI meeting was concerned about the global economy slowing down. As a result, Thai exports have slowed down. In addition, cheap products that are not up to standard are flooding in, causing price problems in the Thai market. This causes the Thai industrial sector to be severely affected. Initially, there are 20 industrial groups. with decreased sales And if there are no measures to regulate imported products, the impact may be even more widespread. Therefore, the FTI proposes to ask the government sector to be strict in detecting imported products that do not meet standards through mechanisms from both Thai Industrial Standards Institute (TISI) and the Customs Department To take care of the safety of consumers is

important.

Tourism is still an important engine for driving the country's economy in the remaining quarters. The FTI meeting viewed that the recovery of some groups of tourists Especially Chinese tourists The number was lower than expected, so it was proposed to expedite and issue additional measures to stimulate tourism. especially the measures Free Visa ASAP Including public relations to increase confidence among tourists in traveling to the country safely. The FTI meeting was of the opinion that the current interest rate has continued to increase and is at the level of 2.25%, which is already a balanced level due to the interest rate. Inflation is likely to continue decreasing, keeping inflation pressures within controllable levels. and financial institutions have slowed down the transmission of loan interest rates into the system.

Mr. Sanan Angubolkul, Chairman of the Board of the Thai Chamber of Commerce, said that tomorrow Prepare to discuss with the Minister of Labor. about labor care Both the minimum wage Thai labor shortage problem Promotion of foreign workers to take care of the labor sector to have quality

Mr. Kriengkrai Thiannukul, Chairman of the Industrial Council of Thailand, said that the private sector is waiting to hear the government's policy explanation to the Council. to come up with an offer When the government rushes to solve the problem of living expenses, reducing expenses and living expenses, it will help alleviate the root cause of the problem. and find ways to increase capital for SMEs when the economy recovers for a while Then it was left to the provincial tripartite committee. consider adjusting wages appropriately .

Source: Thai News Agency