BANGKOK, July 5-“KorKor” maintains GDP forecast for 2023, Thailand still grows 3-3.5%, driven by tourism. But the global economy is slowing down, so exports are cut down to -2% to 0%, while inflation remains 2.2% – 2.7%, worried about the cost of electricity, reiterating the period September-December should not exceed 4.25 baht.
Mr. Payong Srivanich, President of Krung Thai Bank and President of the Thai Bankers’ Association As chairman of the joint committee meeting of 3 private sector institutions (KorKor.) Revealed that the KK meeting still maintains the Thai economic growth forecast frame (GDP) in 2023 at 3% – 3.5% because the economy Thai business tends to continue to expand. As tourism has improved, it is expected that the number of foreign tourists this year will increase to 29-30 million people, but the CRC has adjusted the export figure from -1% – 0% to – 2% – 0% and adjusted inflation from 2.7% to 3.2% to 2.2% to 2.7% as the global economy is likely to slow down considerably in the second half of this year. together with the baht depreciating
“The Thai economy tends to grow mainly from tourism, which foreign tourists are expected to reach 29-30 million people, coupled with private consumption being pressured by a high cost of living and household debt at 90.6% per GDP. Consumption is limited and careful spending. Meanwhile, exports tend to contract further due to the global economic slowdown. especially from the west coast As for inflation, there is still a risk from drought. and wages in the future But headline inflation is expected to be lower than the previous estimate in line with the direction of energy prices, ”said Phayong.
Mr. Payong also mentioned the revision of the BOT’s household debt definition and data to be more comprehensive. As a result, in the first quarter of 2023, household debt stood at 90.6% per GDP, or approximately 4% higher than the previous figure before the adjustment. GDP (7.65 billion baht). from the former that saw the debt in commercial banks Government specialized financial institutions, non-bank groups, and savings cooperatives are the main ones. Pico Finance and cooperatives that are not savings cooperatives
In order to solve the household debt problem sustainably Therefore, it must be to restore the growth potential of the economy. Upgrading labor skills and labor productivity lead to better income Which is what I want the new government to find ways with the private sector. so that all parties benefit both workers, entrepreneurs and the government during this time when the economy is not fully recovered The financial sector must continue to support vulnerable debtors. even though there is some cost per system It also includes the 30% group that is not in the system under the supervision of the BOT.
The CRC proposes that the government should accelerate exports to new markets. in countries that can still expand such as China, India and the Middle East to replace exports in major countries that have declined, especially the United States and the European Union And the committee sees that the tourism market is currently the only main engine in driving the country. especially from Chinese tourists Therefore, the government should focus on accelerating the efficiency and speed of issuing passports, including taking care of the safety of tourists. Including speeding up the engine to drive the economy from government spending.
In addition, at the end of the meeting, the DRC is concerned about the ongoing high cost of operators. In particular, the cost of electricity that the Energy Regulatory Commission (ERC) prepares to consider the automatic variable electricity cost (Ft) for the September-December period, which if considering the factors used to calculate the ft, found that There are positive factors that reduce electricity costs by more than 10% from the May-August period. And it is expected that it should not exceed 4.25 baht/unit from the previous 4.70 baht/unit. from 5 installments to 6 installments in order to reduce the Ft by another 10 satang per unit, which EGAT will receive a full refund within August 2025 .-Thai News Agency
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2023-07-05 09:01:00
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