Bangkok, Economic and Business Forecast Center University of the Thai Chamber of Commerce Downgraded the forecast for the Thai economy this year to 2.6% from the previous forecast of 3.2% due to many factors still affecting economic expansion. Mr. Thanawat Phonwichai, President of the University of the Thai Chamber of Commerce and the Chairman of the Advisory Center for Economic and Business Forecasting said Center for Economic and Business Forecasting The University of the Thai Chamber of Commerce has lowered its forecast for the Thai economy this year down to 2.6% from the original expectation of 3.2% from the Thai economy this year. Many agencies have previously lowered their forecasts for the Thai economy. It comes from many factors. that still affects economic expansion Both the world trade volume is likely to grow lower than originally expected. from the problem of attacks on merchant ships passing through the Red Sea which is an important trade route including consumption and private investment that tends to shrink as well And most importantly, budget disbursement is delayed. together with the budget for both regular expenses and capital expenditures Performed lower than originally expected Therefore, both forecast numbers have been reduced. Private sector consumption remains at 2.8% from 3.2%, government consumption remains at 1.5% from the original estimate of 2.5%, including public investment. that may be negative 1% from the original expected expansion of 1.7%, while exports will expand by 2.8% from the original expectation of 3%. Inflation rate It is expected to be at 1% from the previous 2%, including the ratio of household debt to GDP. That increased by 2% from 87.8% to 89.8%. while there is only income from tourism It is expected to increase to 1.6 trillion baht from the original estimate of only 1.4 trillion baht due to the number of foreign tourists. This year it is expected to return to 35 million due to higher costs per person per day. and agricultural GDP It is expected that the expansion will improve to 2.0% from the previous 1.8%. Therefore, the Economic and Business Forecast Center University of the Thai Chamber of Commerce Therefore, the forecast for the Thai economy in 2024 has been reduced to 2.6% from the original forecast of 3.2%. In the first quarter it expanded only 2%, in the second quarter it began to recover, expanding by 2.5%, in the third quarter it expanded by 3.1%, and in the second quarter Finally, it expanded at 2.8%. However, it is seen that Thailand still has an opportunity to push the economy forward. It can return to expanding beyond 3% if procurement is prepared, especially government investment projects, immediately after the budget is passed. And the faster the budget is spent, the more it will have an effect on the economy. Every 100 billion baht of spending is for public investment. It will result in GDP increasing by 0.68%, including the possibility that the Bank of Thailand Will use monetary policy to help ease the economy. causing the amount of money in the syst em to increase By reducing the policy interest rate in april It can be done. to control core inflation that continued to slow down, with the first 2 months expanding only 0.47%, considered lower than the target of 0.5-3% In addition, if there are fiscal measures through transfer funds Especially the digital wallet project If done quickly, there will be better economic stimulus. By using a budget of every 100,000 million baht of transferred funds will make GDP Expanded by 0.26%, coupled with an increase in the number of tourists. Through incentives such as free temporary or permanent visas Increasing income from foreign tourists and increasing export income All factors will be important tools that will allow this year's GDP to expand more than 3%, etc. Source: Thai News Agency

Bangkok, Economic and Business Forecast Center University of the Thai Chamber of Commerce Downgraded the forecast for the Thai economy this year to 2.6% from the previous forecast of 3.2% due to many factors still affecting economic expansion. Mr. Thanawat Phonwichai, President of the University of the Thai Chamber of Commerce and the Chairman of the Advisory Center for Economic and Business Forecasting said Center for Economic and Business Forecasting The University of the Thai Chamber of Commerce has lowered its forecast for the Thai economy this year down to 2.6% from the original expectation of 3.2% from the Thai economy this year. Many agencies have previously lowered their forecasts for the Thai economy. It comes from many factors. that still affects economic expansion Both the world trade volume is likely to grow lower than originally expected. from the problem of attacks on merchant ships passing through the Red Sea which is an important trade route including consumption and private investment that tends to shrink as well And most importantly, budget disbursement is delayed. together with the budget for both regular expenses and capital expenditures Performed lower than originally expected Therefore, both forecast numbers have been reduced. Private sector consumption remains at 2.8% from 3.2%, government consumption remains at 1.5% from the original estimate of 2.5%, including public investment. that may be negative 1% from the original expected expansion of 1.7%, while exports will expand by 2.8% from the original expectation of 3%. Inflation rate It is expected to be at 1% from the previous 2%, including the ratio of household debt to GDP. That increased by 2% from 87.8% to 89.8%. while there is only income from tourism It is expected to increase to 1.6 trillion baht from the original estimate of only 1.4 trillion baht due to the number of foreign tourists. This year it is expected to return to 35 million due to higher costs per person per day. and agricultural GDP It is expected that the expansion will improve to 2.0% from the previous 1.8%. Therefore, the Economic and Business Forecast Center University of the Thai Chamber of Commerce Therefore, the forecast for the Thai economy in 2024 has been reduced to 2.6% from the original forecast of 3.2%. In the first quarter it expanded only 2%, in the second quarter it began to recover, expanding by 2.5%, in the third quarter it expanded by 3.1%, and in the second quarter Finally, it expanded at 2.8%. However, it is seen that Thailand still has an opportunity to push the economy forward. It can return to expanding beyond 3% if procurement is prepared, especially government investment projects, immediately after the budget is passed. And the faster the budget is spent, the more it will have an effect on the economy. Every 100 billion baht of spending is for public investment. It will result in GDP increasing by 0.68%, including the possibility that the Bank of Thailand Will use monetary policy to help ease the economy. causing the amount of money in the syst em to increase By reducing the policy interest rate in april It can be done. to control core inflation that continued to slow down, with the first 2 months expanding only 0.47%, considered lower than the target of 0.5-3% In addition, if there are fiscal measures through transfer funds Especially the digital wallet project If done quickly, there will be better economic stimulus. By using a budget of every 100,000 million baht of transferred funds will make GDP Expanded by 0.26%, coupled with an increase in the number of tourists. Through incentives such as free temporary or permanent visas Increasing income from foreign tourists and increasing export income All factors will be important tools that will allow this year's GDP to expand more than 3%, etc. Source: Thai News Agency