Finance Minister emphasizes financial stability remains strong Thailand’s economy continues to grow 3-4% this year, focusing on the economic numbers before revising the projection. State a deficit in next year’s budget, an additional 165 billion, to invest in large-scale infrastructure Confident that inflation in the country is under control at 3% after adopting a direct solution of energy prices. and reduce the cost of helping people
Today (9 March) at the Queen Sirikit National Convention Center, Ibusiness is organizing an annual seminar “The Future of Thailand NEXT: Thailand’s Turning Point towards Sustainability” with Mr Supattanapong Phanmeechaow, Deputy Prime Minister and Minister of Energy Presided over the opening ceremony and delivered a special speech Ready to motivate representatives of the government, private sectors, political parties to show their vision to push and drive the Thai economy together towards sustainability
Arkhom Termpittayapaisith Mr. Minister of Finance According to the next seminar Thailand’s future, Thailand’s turning point towards sustainability, organized by Ibusiness and Krungthai Bank Public Company Limited, that Thailand had to face two impacts in the past: the COVID-19 epidemic . and the Russian-Ukrainian War which is what all countries are facing as well. It depends on the ability to solve problems that can be done very quickly. and they must be corrected to the point in the public sector big business SME business After the problems that happened, the country has continued to improve. And if Thailand’s economy is from now on able to move forward towards sustainability, we must look at the same factors, namely 1. Economic growth 2. Financial Stability
for the growth of the economy In the past, there has been a steady recovery since 2013-2013, with growth improving accordingly. And it is expected that this year will grow according to the original estimate of 3-4%, that the appropriate growth of the Thai economy should be 4-5%. Thai economy in January-March again before whether the projection gets amend it or not.
“Thailand’s economic growth is always questioned as to whether it is slower than neighboring ASEAN countries. But it is considered to be in a good way, although we still do not know how the Thai economy will be at its peak. Further growth is also under the assumption of increasing productivity and increasing the skills of the workforce. which after COVID could cause a shortage of workers who have not returned from the COVID period And some of them may enter the agricultural sector instead. In addition, increasing the skills of the workforce in the digital age is something that’ n the government must focus on it too.
Mr Arkom said that in terms of economic stability Looking at the current international reserves, it is still above 200 billion baht, while the public debt is still in the ceiling in line with economic growth. The 61.26% increase in public debt came from the 4th quarter GDP revision and borrowing to cover the budget deficit in 2023, causing Thailand’s fiscal position to remain stable and stable. But if it is to be sustainable, there must be a balanced budget in the future. Currently, the government sector still needs continued investment in the structure. By making the budget in 2024 still a deficit. And an additional 165 billion will be spent on large-scale infrastructure expansion.
in solving the problem of inflation The Ministry of Finance has coordinated with the Bank of Thailand to keep the inflation framework at 3%. The Ministry of Finance is trying to correct inflation to the point of reducing energy costs. and help the public sector
“When it comes to economic stability, we take care of spending efficiently and on the spot. which solves various problems covering both the public sector large businesses and small and medium-sized businesses, which if it is related to household debt The business sector will focus on debt restructuring rather than a debt moratorium. Help reduce the cost of electricity and cooking gas. That is the part that the government has to take care of. And every policy that comes out is aimed at the most appropriate and effective goals.”
