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Thai business group sees GDP growth at 2.8% this year, risks ahead

Thai business group sees GDP growth at 2.8% this year, risks ahead


Published on 2024-12-04 14:09:25 - Bill Williamson, WOPRAI
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  • Thailand's economy is expected to grow 2.8% this year, the top end of a previous forecast range of 2.6% to 2.8%, helped by stronger exports and government spending, a leading joint business group said on Wednesday.

The Thai business group, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), has forecasted a GDP growth of 2.8% for Thailand in 2024, slightly lower than the previous year's 2.9%. This projection comes amidst concerns over global economic slowdowns, particularly in major markets like the US, Europe, and China, which could impact Thai exports. The group highlighted several risks including geopolitical tensions, high household debt, and potential delays in the 2024 fiscal budget. Despite these challenges, there is optimism due to a recovery in tourism, with an expected 35 million foreign visitors, and government initiatives aimed at stimulating the economy. However, the JSCCIB emphasized the need for vigilance regarding these external and internal economic pressures.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/markets/thai-business-group-sees-gdp-growth-at-2-8-this-year-risks-ahead/ar-AA1veIXr ]
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