The 64th economy is still at risk – Mr. Thanawat Phonvichai, Advisor to the Economic and Business Forecast Center University of the Thai Chamber of Commerce Revealing Thailand’s economic forecast for 2020-2021 that prolonged COVID-19 slows down the economy. Political vulnerabilities weaken consumer and investor confidence. Continued appreciation of the baht, drought and US-China trade war are at risk.
The positive factor is the progressive vaccine development. Chinese economy recovered Government sector continues to stimulate the economy Expect Thailand’s economic growth (GDP) in 2020 to be negative 6.3%, next year to expand 2.8%, exports this year to negative 7.4%, next year to expand 3.5%. Inflation this year is negative 0.9. % While next year’s inflation expands 1%
Each half of the project will cause money to flow into the economic compensation system in the first quarter of next year when exports have not fully recovered. But the strong baht will increase the price of Thai products. While the Bank of Thailand (BOT) will not use a policy to reduce interest rates in the care of the baht. Instead, it uses a mechanism that stabilizes the currency. And in the event that the United States has watched Thailand intervene in the currency, believe that the BOT will clarify
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