The NESDB predicts that GDP will be 3.2% in 2022. By the end of this year, no major measures will need to be taken. Stimulating the economy, revealing GDP 2023 at 3.5%, expecting 23.5 million tourists if China opens the country
Mr Danucha Pichayanan, the secretary general of the National Economic and Social Development Board (NESDB) or NESDB revealed that the NESDB has predicted that the Thai economy in 2022 will grow at 3.2% from what was predicted in August 2022 at 2.7-3.2 %, with growth accelerating from 2021 growth of 1.5%, while inflation is expected to be 6.3% and a current account deficit of 3.6% of gross domestic product (GDP) As for the number of tourists for the year 2022 it is expected to be. on 10.2 million people, which generates an income for the country of 5.7 billion baht.
Mr Danucha said for the economy at the end of this year NESDB has a positive view. But it is still less positive than other positions such as the Fiscal Policy Office. Expected at 3.3% of the account deficit Normally there is no deficit. because of the tourism income coming in to pay for the income to create a balance But in the last two years, there has been an outbreak of COVID. Causing tourists to fall Income has fallen Causing the current account balance in 2021 to have a deficit of 2.2% and a deficit that continues until 2022, as for the year 2023 tourism will return. It is expected that the current account balance will return to surplus.
Mr Danucha said Regarding the end of the year, are further economic stimulus measures needed? Mr Danucha said If you look at the expected economic numbers It would not have reached the stage of having to have a large economic stimulus measure to come out. But understand that at the end of 2022 to the new year, all government agencies will have a New Year’s gift. in various measures That’s not a huge boost. but for people to come out and spend more Or take the expenditure to reduce tax It is still in the process of discussing whether there will be measures to come out or not.
“If you look at tourism itself, the rate of use in tourist attractions has increased quite a bit, selling around 47-48% and compared monthly It has expanded to a bit more than 50% So, if you have to have measures to stimulate the economy the measures must be looked at to be specifically more targeted Regarding the issue of living costs caused by rising energy prices The government may have measures that are aimed at the goal. To help alleviate the suffering of the people, however, whether or not the measures will come out in different departments is being implemented and will be presented to the Cabinet (Cabinet) in the next order,” he said. Mr Danucha.
Danucha who said that Mr. Regarding Thailand’s economy in 2023, it is expected to grow in the range of 3.0-4.0% with a median value of 3.5%, which is an important supporting factor of the recovery of the tourism sector The number of tourists in 2023 is expected to be 23.5 million people and generate revenue of 1.2 trillion baht, assuming that China opens to international travel in the second half of 2023, including an expansion of domestic consumption of 3.0%, an expansion of private and public investment, 2.6% and 2.4%, respectively, and good growth in the agricultural sector The value of exports in dollar terms grew by 1.0%, headline inflation averaged in the range of 2.5-3.5%, and the current account surplus was 1.1% of GDP.
“In terms of the next phase of risk factors, such as the global economy with risks of inflation and rising interest rates, Protracted geopolitical conflict that affects energy prices and the economy tends to recover quite slowly due to the policy of no covid. Including problems in China’s real estate sector, etc.,” said Danucha.
This continued In terms of macro-economic policy management issues in 2023, attention should be paid to them 1. Solving the debt problems of retail debtors AND the small and medium business sector (SMEs) 2. Overseeing agricultural production and farm income. 3. Maintaining the momentum of product exports by exporting products to new markets The economic outlook is favorable and the development of quality and standards meets the requirements of the importing country.
Mr Danucha said 4. Support the recovery of tourism and related services 5. Promote private investment By taking care of liquidity for the business sector amid rising interest rates and a slowdown in the global economy. and promoting investment in new targeted industries and in special economic zones such as the EEC 6. Stimulating government spending and investment 7. Monitoring And preparing measures to cope with the instability of the global economy and finance, and 8. Monitoring, monitoring and prepare for the situation of the spread and mutation of the disease COVID-19.
