Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Thai finance minister says economy not good, with growth worsening
2024 07 10T024321Z 1 LYNXMPEK6902O RTROPTP 4 THAILAND POLITICS

Thai finance minister says economy not good, with growth worsening


Thai finance minister says economy not good, with growth worsening

BANGKOK (Reuters) -Thailand’s economy has not been good for a long time, with growth deteriorating as it faces structural problems, the finance minister said on Wednesday.

The government was working to lift economic growth to 3% this year from current projections of about 2.5%, Pichai Chunhavajira told a business seminar, adding growth was low compared with rates of close to 6% in the past.

Southeast Asia’s second-largest economy expanded 1.9% last year, lagging regional peers, as it faced weak exports and high household debt and borrowing costs. Average economic growth was 1.73% over the past decade.

Pichai said tourism would help drive the economy, as at least 35 million foreign tourist arrivals were expected this year. In 2019, before the pandemic, there was a record of nearly 40 million visitors.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

He also said current household debt at more than 90% of gross domestic product needed to be urgently tackled amid rising bad loans.

Pichai said he was hoping the central bank would relax loan-to-value regulations for mortgages to support the property sector.

(Reporting by Orathai Sriring, Kitiphong Thaichareon and Thanadech Staporncharnchai; Editing by John Mair)

 

Recent Post: