Bangkok, NESDB reveals GDP in 2023 grows at 1.9 percent. It expects the economy in 2024 to expand 2.2-3.2 percent. Recommends MPC to reduce interest margin to help SMEs. Household sector is concerned about industrial sector. Not growing according to exports Urges government agencies to expedite budget disbursement for 2024 Mr. Danucha Pitchayanan, Secretary-General of the National Economic and Social Development Council (NESDB), revealed that GDP numbers for the 4th quarter of 2023 expanded by 1.7 percent, growing continuously from (GDP) the 3rd quarter of 2023 expanded by 1.5 percent. As a result, the economy for the whole year 2023 expanded by 1.9 percent, from the original NESDB forecast that GDP in 2023 would expand by 2.5 percent, while exports began to expand by 3.4 percent, considered growth in the past 5 quarters, with the Ministry of Finance revealing the figures. GDP in 2023 expanded only 1.8 percent. GDP in 2024 is forecast to grow at 2.8 percent. The MPC forecasts GDP in 2024 to expand at 2.5-3 percent. NESDB forecasts that the economy in 2024 will expand at 2.2-3.2 percent, with inflation at 0.9-1.9 percent, without taking the 10,000 baht digital wallet project into the calculation because the main policy needs to be discussed with many other parties. After setting up two more sub-committees to consider opinions on both the decree and the NACC and various aspects, it is expected that private consumption will expand 3 percent, investment will expand 3.5 percent. Tourism is expected to see foreign tourists traveling. 35 million people entered Thailand, with domestic spending of 1.22 trillion baht, spending 35,0000 baht per person per trip. It is an important economic support. The government must take care of the safety of tourism in the country. Long-term visa exemption for foreigners including the elderly, experts, and those with high purchasing power to come and spend in the country 'At this time there is great concern about industrial production figures. It is expected that it will expand by 3.5 percent in 2024 because exports begin to expand back to 2.9 percent in 2024, compared to a decline of 1.7 percent in 2023. Therefore, it is necessary to discuss with the Industry Council. Office of Industrial Economics (OIE) and related agencies Because exports are starting to be good. But why can't the private sector produce products to grow in time to keep up with incoming orders? What problems arise, including capital, labor, production, because industrial production accounts for as high as 27-28 percent of GDP. If the private sector doesn't move, it will have a heavy impact on the country's GDP,' Mr. Danucha said. NESDB also recommends that the BoT seriously consider the next interest rate. If the interest rate is reduced next time will help ensure that all sectors are covered In addition, the difference between interest on deposits and loans should be reduced. To take care of the burden of SMEs and retail investors, the bank currently has a margin of approximately 5 percent to provide SMEs with addition al liquidity. including the household sector Accept that small businesses must pay installments for their homes. It is very important. And SMEs and small businesses use credit cards to use them as funding for their careers. If anyone has a problem with overdue payments for a long time You must bring the debtor to negotiate the debt. In order not to affect NPL debt, we therefore want the BoT to revise the minimum debt repayment criteria of 5 percent, which has recently been increased to 10 percent. To take care of household debt By doing it seriously you will see more clear results. It is accepted that fiscal policy has almost completely been used to stimulate the economy. Therefore, monetary policy must be used to take care of the economy further. Mr. Danucha further suggested that Measures to stimulate the economy during this period Need to find measures to take care of the household debt sector. This is because household debt to GDP has been consistently high for many years and has not decreased. Worried t hat it will greatly affect small businesses. For taking care of exporters NESDB is in discussion with the Ministry of Finance. Create an individual export guarantee system If there is an order coming in Such documents should be brought Submit a loan guarantee from the bank in order to use capital to produce products without having to wait for a guarantee from TCG in each set to come out and take care of SME exporters Including expediting the disbursement of the 2024 budget of government agencies. in order to disburse the investment budget according to the target Warning to be careful of drought due to high temperatures this year. until affecting the production of agricultural products The government must prepare a support plan. Worried that it will have a heavy impact on farmers. Moreover, the violence in the Middle East It also affects freight rates. Affecting the cost of Thai exports. Source: Thai News Agency
NESDB expects GDP in 2024 to expand by 2.2-3.2 percent.
Bangkok, NESDB reveals GDP in 2023 grows at 1.9 percent. It expects the economy in 2024 to expand 2.2-3.2 percent. Recommends MPC to reduce interest margin to help SMEs. Household sector is concerned about industrial sector. Not growing according to exports Urges government agencies to expedite budget disbursement for 2024 Mr. Danucha Pitchayanan, Secretary-General of the National Economic and Social Development Council (NESDB), revealed that GDP numbers for the 4th quarter of 2023 expanded by 1.7 percent, growing continuously from (GDP) the 3rd quarter of 2023 expanded by 1.5 percent. As a result, the economy for the whole year 2023 expanded by 1.9 percent, from the original NESDB forecast that GDP in 2023 would expand by 2.5 percent, while exports began to expand by 3.4 percent, considered growth in the past 5 quarters, with the Ministry of Finance revealing the figures. GDP in 2023 expanded only 1.8 percent. GDP in 2024 is forecast to grow at 2.8 percent. The MPC forecasts GDP in 2024 to expand at 2.5-3 percent. NESDB forecasts that the economy in 2024 will expand at 2.2-3.2 percent, with inflation at 0.9-1.9 percent, without taking the 10,000 baht digital wallet project into the calculation because the main policy needs to be discussed with many other parties. After setting up two more sub-committees to consider opinions on both the decree and the NACC and various aspects, it is expected that private consumption will expand 3 percent, investment will expand 3.5 percent. Tourism is expected to see foreign tourists traveling. 35 million people entered Thailand, with domestic spending of 1.22 trillion baht, spending 35,0000 baht per person per trip. It is an important economic support. The government must take care of the safety of tourism in the country. Long-term visa exemption for foreigners including the elderly, experts, and those with high purchasing power to come and spend in the country 'At this time there is great concern about industrial production figures. It is expected that it will expand by 3.5 percent in 2024 because exports begin to expand back to 2.9 percent in 2024, compared to a decline of 1.7 percent in 2023. Therefore, it is necessary to discuss with the Industry Council. Office of Industrial Economics (OIE) and related agencies Because exports are starting to be good. But why can't the private sector produce products to grow in time to keep up with incoming orders? What problems arise, including capital, labor, production, because industrial production accounts for as high as 27-28 percent of GDP. If the private sector doesn't move, it will have a heavy impact on the country's GDP,' Mr. Danucha said. NESDB also recommends that the BoT seriously consider the next interest rate. If the interest rate is reduced next time will help ensure that all sectors are covered In addition, the difference between interest on deposits and loans should be reduced. To take care of the burden of SMEs and retail investors, the bank currently has a margin of approximately 5 percent to provide SMEs with addition al liquidity. including the household sector Accept that small businesses must pay installments for their homes. It is very important. And SMEs and small businesses use credit cards to use them as funding for their careers. If anyone has a problem with overdue payments for a long time You must bring the debtor to negotiate the debt. In order not to affect NPL debt, we therefore want the BoT to revise the minimum debt repayment criteria of 5 percent, which has recently been increased to 10 percent. To take care of household debt By doing it seriously you will see more clear results. It is accepted that fiscal policy has almost completely been used to stimulate the economy. Therefore, monetary policy must be used to take care of the economy further. Mr. Danucha further suggested that Measures to stimulate the economy during this period Need to find measures to take care of the household debt sector. This is because household debt to GDP has been consistently high for many years and has not decreased. Worried t hat it will greatly affect small businesses. For taking care of exporters NESDB is in discussion with the Ministry of Finance. Create an individual export guarantee system If there is an order coming in Such documents should be brought Submit a loan guarantee from the bank in order to use capital to produce products without having to wait for a guarantee from TCG in each set to come out and take care of SME exporters Including expediting the disbursement of the 2024 budget of government agencies. in order to disburse the investment budget according to the target Warning to be careful of drought due to high temperatures this year. until affecting the production of agricultural products The government must prepare a support plan. Worried that it will have a heavy impact on farmers. Moreover, the violence in the Middle East It also affects freight rates. Affecting the cost of Thai exports. Source: Thai News Agency
NESDB expects GDP in 2024 to expand by 2.2-3.2 percent.
Bangkok, NESDB reveals GDP in 2023 grows at 1.9 percent. It expects the economy in 2024 to expand 2.2-3.2 percent. Recommends MPC to reduce interest margin to help SMEs. Household sector is concerned about industrial sector. Not growing according to exports Urges government agencies to expedite budget disbursement for 2024 Mr. Danucha Pitchayanan, Secretary-General of the National Economic and Social Development Council (NESDB), revealed that GDP numbers for the 4th quarter of 2023 expanded by 1.7 percent, growing continuously from (GDP) the 3rd quarter of 2023 expanded by 1.5 percent. As a result, the economy for the whole year 2023 expanded by 1.9 percent, from the original NESDB forecast that GDP in 2023 would expand by 2.5 percent, while exports began to expand by 3.4 percent, considered growth in the past 5 quarters, with the Ministry of Finance revealing the figures. GDP in 2023 expanded only 1.8 percent. GDP in 2024 is forecast to grow at 2.8 percent. The MPC forecasts GDP in 2024 to expand at 2.5-3 percent. NESDB forecasts that the economy in 2024 will expand at 2.2-3.2 percent, with inflation at 0.9-1.9 percent, without taking the 10,000 baht digital wallet project into the calculation because the main policy needs to be discussed with many other parties. After setting up two more sub-committees to consider opinions on both the decree and the NACC and various aspects, it is expected that private consumption will expand 3 percent, investment will expand 3.5 percent. Tourism is expected to see foreign tourists traveling. 35 million people entered Thailand, with domestic spending of 1.22 trillion baht, spending 35,0000 baht per person per trip. It is an important economic support. The government must take care of the safety of tourism in the country. Long-term visa exemption for foreigners including the elderly, experts, and those with high purchasing power to come and spend in the country 'At this time there is great concern about industrial production figures. It is expected that it will expand by 3.5 percent in 2024 because exports begin to expand back to 2.9 percent in 2024, compared to a decline of 1.7 percent in 2023. Therefore, it is necessary to discuss with the Industry Council. Office of Industrial Economics (OIE) and related agencies Because exports are starting to be good. But why can't the private sector produce products to grow in time to keep up with incoming orders? What problems arise, including capital, labor, production, because industrial production accounts for as high as 27-28 percent of GDP. If the private sector doesn't move, it will have a heavy impact on the country's GDP,' Mr. Danucha said. NESDB also recommends that the BoT seriously consider the next interest rate. If the interest rate is reduced next time will help ensure that all sectors are covered In addition, the difference between interest on deposits and loans should be reduced. To take care of the burden of SMEs and retail investors, the bank currently has a margin of approximately 5 percent to provide SMEs with addition al liquidity. including the household sector Accept that small businesses must pay installments for their homes. It is very important. And SMEs and small businesses use credit cards to use them as funding for their careers. If anyone has a problem with overdue payments for a long time You must bring the debtor to negotiate the debt. In order not to affect NPL debt, we therefore want the BoT to revise the minimum debt repayment criteria of 5 percent, which has recently been increased to 10 percent. To take care of household debt By doing it seriously you will see more clear results. It is accepted that fiscal policy has almost completely been used to stimulate the economy. Therefore, monetary policy must be used to take care of the economy further. Mr. Danucha further suggested that Measures to stimulate the economy during this period Need to find measures to take care of the household debt sector. This is because household debt to GDP has been consistently high for many years and has not decreased. Worried t hat it will greatly affect small businesses. For taking care of exporters NESDB is in discussion with the Ministry of Finance. Create an individual export guarantee system If there is an order coming in Such documents should be brought Submit a loan guarantee from the bank in order to use capital to produce products without having to wait for a guarantee from TCG in each set to come out and take care of SME exporters Including expediting the disbursement of the 2024 budget of government agencies. in order to disburse the investment budget according to the target Warning to be careful of drought due to high temperatures this year. until affecting the production of agricultural products The government must prepare a support plan. Worried that it will have a heavy impact on farmers. Moreover, the violence in the Middle East It also affects freight rates. Affecting the cost of Thai exports. Source: Thai News Agency