Bangkok, The FTI expects GDP in 2024 to be at 2.8-3.3%, hoping for monthly exports to be worth more than 22 billion US dollars. As tourism begins to recover But Chinese tourists have not returned, despite being ranked No. 1 at the moment. Expected inflation for the whole year will be at 0.7-1.2%.
Mr. Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries Revealed after the meeting of the joint committee of 3 private sector institutions (PRO) that the meeting estimated the Thai economy in 2024, still expecting the economic growth rate (GDP) this year to be at 2.8-3.3% due to the view that The Thai economy is still weak due to many factors. with exports still recovering slowly Tourism has not yet returned to its original level. and domestic purchasing power is pressured by household debt problems. And it is expected that the inflation rate for the whole year will be at 0.7-1.2%.
Even though the export sector is likely to return to expansion. But it is expected that the export value for the whol
e year will grow at a low level of 2-3% and risks from factors outside the country are still high. while industries that rely on exports The capacity utilization rate is low. The value of exports in January was worth 22 billion US dollars. It must be hoped that monthly exports will be worth more than 22 billion US dollars, which will be beneficial to Thailand. It is necessary to find additional new export markets.
As for tourism, it is still recovering. But the number of Chinese tourists is still 50% lower than the pre-Covid level because Chinese people have turned to traveling mainly within the country, which is now the number of tourists coming into our country. China has risen to number 1, Malaysia is number 2 and Russia is number 3. It is expected that foreign tourists for the whole year will be at 34-35 million people. The tourism sector must have something that attracts foreign tourists’ pockets. Because in the past Each foreign tourist will be charged 40,000 baht per head per trip into Thailand. There
fore, foreign tourists must increase their spending power while traveling in Thailand to as much as 50,000 baht per person per capita. The FTI is looking at pushing for soft power. To increase the spending power of foreign tourists In addition, debt problems and domestic purchasing power tend to be weak. It will be a factor that will continue to put pressure on household consumption.
Government budget disbursement There is a trend of improvement in the second quarter from the fiscal year 2024 budget calendar that adjusts faster. To be able to disburse funds from the beginning of the second quarter, which will help support the economy to move forward continuously. and support investment in both the public and private sectors in the future.
Economic projection framework for 2024 of the FTI (as of Dec. 2023) Year 2023
At the meeting, the FTI also gave importance to the mechanism for solving air pollution problems through the draft Clean Air Management Act B.E…. which the Cabinet has resolved to accept in pr
inciple. and handed it over to the Extraordinary Commission Considering amending the draft Act so that the mechanism for resolving air pollution problems is sustainable. and covers problems in all dimensions, including PM2.5 problems and burning in the open air Pollution from the transportation sector and cross-border pollution, the FTI has recommendations for the preparation of the draft Clean Air Act as follows:
It is proposed that there be 4 representatives of the private sector, equal to the public sector, to participate in the 3 steering committees under the draft Clean Air Act, consisting of 1) the Clean Air Policy Committee, 2) the Management Committee. For clean air 3) Provincial Clean Air Committee To achieve integrated cooperation in solving the air pollution problem sustainably.
Integrated governance Clean air quality standards Air quality index and various control standards To reduce duplication in complying with the laws of each agency.
Review the placement of collateral for environmental dama
ge when applying for permission to operate a business. The system for purchasing insurance should be used as replacement in the event of damage. Including adjusting the punishment for offenders to be appropriate and fair.
Review improvements to conditions and limitations on the use of environmental funds. To be able to use the budget to solve problems efficiently. Including determining economic measures that are appropriate to the current economic conditions.
Study the appropriateness and details of the draft Act, emphasizing the participation process from all sectors.
In addition, the FTI meeting was concerned about the quality and standards of fruits and vegetables imported for sale within Thailand. In January, merchandise imports increased to 13,275.20 million baht, expanding 8.45 percent from the same month last year. which has increased the number of imported fruits and vegetables As a result, the government sector must be more stringent in quality inspection. therefore proposed to relevant government
agencies Help tighten the inspection of quality and standards of vegetable and fruit products, including increasing manpower and equipment to inspect the large number of vegetable and fruit products arriving during this period. For the safety of consumers within the country
Mr. Kobsak Duangdee, Secretary-General of the Thai Bankers’ Association Revealing the matter of the Ministry of Finance is moving forward with the issuance of a license to operate a branchless commercial bank (Virtual Bank) that is a matter The BoT is open and has been operating for some time. The banking sector was not surprised at all. But the banking sector must prepare and cope more because there will be new commercial banks emerging. It opens up more competition. As for the BoT giving government banks Joint venture to establish AMC to manage bad debts It is considered a good thing.
Source: Thai News Agency