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Thai Economy faces lower growth

BoT sees higher baht, hiked funding costs: The Thai economy will face challenges from low global growth, an appreciating currency and higher funding costs in the years ahead, according to economists at the Bank of Thailand. Tarisa Watanagase, the governor of the Bank of Thailand, said the global recovery remained fragile, as seen through relatively high unemployment. But gains in consumption figures in the US and Europe have created optimism about the global recovery. “The timely disbursement of public funds and a recovery of private investment will help to drive economic growth in the short term,” she said. The baht will be more volatile with capital inflows but the central bank sees no need to impose new measures to address speculation, she said.But timely fiscal and monetary expansion in the industrialised economies helped lessen the overall impact. (Bangkok Post)

Joe Miller
the authorJoe Miller
I have been living in Thailand for over 20 years, witnessing the remarkable changes the country has undergone since the Asian Financial Crisis. Throughout my time here, I have lived Phuket, Samui, Hua Hin, and Chiang Mai, but ultimately, I always find myself returning to the bustling city of Bangkok. This dynamic metropolis served as the perfect setting for me to run a software development company and teach at universities. Nowadays, I embrace the digital world, with Bangkok as my home base. My unwavering belief in the enormous potential of Thailand and its people inspired me to create Thaivest. Through this platform, I aim to help individuals from around the globe discover how to thrive and make a fulfilling living in this captivating country.

1 Comment

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