BANGKOK, 6 June 2019 (NNT) - As for the economic situation, the meeting of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) forecast that the delay in the government establishment will affect the expenditure budget for the year 2020, and the contracted exports will affect the economy in the second half of the year. Therefore, it will review the overview of the Thai economy this year the next month.
Mr. Predee Daochai, Chairman of the Thai Bankers’ Association (TBA), said in addition to the likely prolonged trade war problem because the United States may raise tariffs on Chinese products in the remaining lots which could affect the export this year, there are still a political factor from the delayed establishment of a government which will affect the preparation of the annual expenditure budget 2020. The meeting of the JSCCIB, therefore, prepares to revise the Thai economic forecast this year next month after the end of the second quarter when the political situation should be clearer.
Mr. Suphan Mongkholsuthee, Chairman of the Federation of Thai Industries, added that the JSCCIB has prepared a private sector’ economic development proposal for a new government in economic development and also requires the Joint Public-Private Sector Consultative Committee to meet every six months in order to promptly solve problems. He has urged the new government to roll out tax-oriented stimulus measures to boost the country’s economy. He said the new government should also continue pushing megaprojects which have already been started.