Citibank Thailand’s Economist Nalin Chutchotitham (Photo: thainews.prd.go.th)Bangkok (VNA) – Citibank haspredicted Thai economy to expand up to 3.3 percent in 2019, while urging thenew government to stimulate the domestic economy.
Citibank Thailand’s Economist NalinChutchotitham has revealed that the global economy this year could grow 2.9percent, below 2018’s figure of 3.2 percent, due to tensions resulting from thetrade tensions between the US and China, and the possibility of the US FederalReserve (FED) to cut interest rates.
Due to these conditions, Citibank haslowered Thailand’s economic growth projection this year from 3.8 to 3.3 percent.The bank now projects a slight Thai economic recovery in 2020 with 3.7 percentannual growth.
The export and tourism sectors in theremaining half of 2019 are still showing growth potential compared to earlierthis year, while the Thai baht is likely to remain strong until early 2020,being valued at between 31.20 and 31.50 baht per US dollar.
On the forming of the new Cabinet,Citibank considers this a positive factor for the economy, yet the extent of itwill depend on the government’s economic stimulation measures.
The bank recommends the governmenturgently stimulate the domestic economy to compensate for a deceleration in theexport and tourism sectors, and to expedite pending projects such as theEastern Economic Corridor and state enterprise investments. -VNA
Citibank Thailand’s Economist NalinChutchotitham has revealed that the global economy this year could grow 2.9percent, below 2018’s figure of 3.2 percent, due to tensions resulting from thetrade tensions between the US and China, and the possibility of the US FederalReserve (FED) to cut interest rates.
Due to these conditions, Citibank haslowered Thailand’s economic growth projection this year from 3.8 to 3.3 percent.The bank now projects a slight Thai economic recovery in 2020 with 3.7 percentannual growth.
The export and tourism sectors in theremaining half of 2019 are still showing growth potential compared to earlierthis year, while the Thai baht is likely to remain strong until early 2020,being valued at between 31.20 and 31.50 baht per US dollar.
On the forming of the new Cabinet,Citibank considers this a positive factor for the economy, yet the extent of itwill depend on the government’s economic stimulation measures.
The bank recommends the governmenturgently stimulate the domestic economy to compensate for a deceleration in theexport and tourism sectors, and to expedite pending projects such as theEastern Economic Corridor and state enterprise investments. -VNA
VNA
