BANGKOK (NNT) - Despite the fact that the government has regularly introduced economic stimulus measures, various risk factors, especially the problem of the trade war between the United States and China which affects the export sector and the industrial sector’s production, have prompted the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) to forecast that this year’s economy may grow at just three percent. The JSCCIB has also called on the government to accelerate the issuance of short-term stimulus measures to improve the economy from the fourth quarter of this year to the first quarter of next year
JSCCIB Chairman Kalin Sarasin disclosed after a discussion on the economic situation, that the Thai economy this year can still grow in the range of 2.7 to three percent with the help of the government’s stimulus measures especially the Taste Shop Spend Campaign. The JSCCIB has forecast an export contraction of 0-2 percent because of the US-China trade war. The private sector thinks that during the rest of this year the government should issue short-term economic stimulus measures such as the shopping tax break and tax measures to support tourism and accelerate the public sector’s investment to improve the economy from the fourth quarter of this year to the first quarter of next year and maintain the level of economic growth.
As for the economic outlook next year, the private sector thinks it will improve thanks to the public sector’s spending after the budget has been approved and the growth in the private sector’s investment while tourism still grows well and it is expected that there will be about 40 million foreign visitors.