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Thai GDP growth forecast for 2019 slashed further

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A wage hike of 6฿ is not a problem as it only reflects the inflation. The problem is that Yingluck introduced this policy years ago with no differentiation of business sectors. For some businesses it’s too high for low skilled labour. They move to Vietnam or Indo.

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2 hours ago, webfact said:

Among the businesses that continue to thrive is tourism.

At more than 30% of GDP, foreign tourism and the sex trade are the only thing keeping the Thai economy afloat! 

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The original estimate was 3.2% but we won't mention that and we will only mention the reduction to 2.5% once then we will spend the rest of the story saying how great things will be next year!

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The annual GDP slash-fest continues.  If only I had a satang for every time the Ministry of Finance slashed GDP I could get a free beer.

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35 minutes ago, Jimbo2014 said:

The annual GDP slash-fest continues.  If only I had a satang for every time the Ministry of Finance slashed GDP I could get a free beer.

Only this was not by the ministry of finance. Still your right they did it a few times too many already. 

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There's a fantastic article in the other paper about the Thai economy which says it how it is.

Just been back to quote the reference and it has disappeared!

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7 hours ago, mikebell said:

There's a fantastic article in the other paper about the Thai economy which says it how it is.

Just been back to quote the reference and it has disappeared!

"ghostly happenings" perhaps.....:clap2:

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19 hours ago, webfact said:

Kasikorn Research Centre has revised downward its gross domestic product (GDP) forecast for 2019 to 2.5 per cent

A very optimistic forecast to start with at the beginning of the year, now the reality has kicked in and figures are available for all to see the truth must come out!

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18 hours ago, FarFlungFalang said:

The original estimate was 3.2% but we won't mention that and we will only mention the reduction to 2.5% once then we will spend the rest of the story saying how great things will be next year!

Last week Bank of Ayudhya downgraded GDP outlook this year from 2.9% to 2.4%.

It projected a GDP expansion of 2.5% next year based on more growth in the tourism sector, disbursement of state funds in 2020Q1 and BOT cutting its policy interest rate to 1%.

All these good signs despite expectation of the export sector contracting 2.5% this year!

https://forum.thaivisa.com/topic/1137748-bay-releases-economic-outlook-2020-report/?utm_source=newsletter-20191209-0638&utm_medium=email&utm_campaign=news

None of Thailand's bank projections seem to survive a quarter before they're lowered again.

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Must be because the hoards of Indians are only spending 5999 baht day🤔 

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Talking daily to lots of small business owners and I see no growth whatsoever. Everyone is struggling and has been doing so for a long time now.

 

And I see more and more open resentment towards those who has created the situation. Wonder how long it will take before normal Thai people have just had enough? 

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Just now, khunpa said:

Wonder how long it will take before normal Thai people have just had enough?

And do what? Man the barricades?

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On 12/9/2019 at 2:19 PM, webfact said:

the expected stronger baht in 2020, when compared to the 2019 average, will not only affect the export sector but also lead to a shrinkage or reduction of the manufacturing output and possible job losses. Based on preliminary estimations, over 30,000 jobs in the manufacturing sector will be affected after almost 100,000 jobs disappeared in 2019.

:shock1:

On 12/9/2019 at 2:19 PM, webfact said:

Meanwhile, the drought in 2020 is forecast to be more severe than in 2019 as the water levels in various dams in Thailand have dropped drastically since the beginning of this year. 

:shock1:

 

On 12/9/2019 at 2:19 PM, webfact said:

Meanwhile, the property sector has not recovered yet because there are around 200,000 accumulated unsold residential units in the market, which is too high for property developers to clear within a short period of time. 

:shock1:

 

On 12/9/2019 at 2:19 PM, webfact said:

Meanwhile, exports may continue to shrink due to deceleration in Thailand's major export markets,

:shock1:

 

On 12/9/2019 at 2:19 PM, webfact said:

Thai businesses may face numerous downside risks including the baht's appreciation,

:shock1:

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