The resolution of the government cut GDP to 2.7-3%. Global economic crisis, baht appreciation affects exports may reach minus 2%.

Cabinet resolution cut GDP to 2.7-3%. The global economic crisis, baht appreciation affects exports, contraction may reach minus 2%.

On 2 October, Mr. Lynn Sarasin, President of the Thai Chamber of Commerce and the Thai Chamber of Commerce As the Chairman of the Board of Governors, the Cabinet announced that Economic indicators during the months of July and August Indicates that the direction of the Thai economy in the 3rd quarter of 2019 is still in a weak state from the first half of the year. With the main factor being the risk from the foreign sector Both the global economy is slowing. The result of a trade war between the United States and China. And the appreciation of the baht Dragged exports to a wide contraction in both products and main export markets Affecting the manufacturing sector Meanwhile Domestic drives are dwindling in both consumption and investment. Only the number of foreign tourists has improved. In part from the low base effect during the same period last year

And under the uncertainty situation of the world's major economy, the protracted trade war between the United States and China, the Brexit issue and the direction of the baht appreciation, the government reduced the rate of export growth. Released in 2019 to -2.0% to 0.0% from -1.0% to 1.0%

And although the government has several stimulus measures such as shopping shoppers, agricultural income insurance measures, and remedial measures for those affected by the floods, it is expected that positive forces will be able to compensate for the impact of many factors from Therefore, the government has reduced the rate of growth of Thai economy in 2019 to 2.7-3.0% from 2.9-3.3%.

However The government is expected to see additional measures from the government. In addition to accelerating the expenditure budget framework by 2020, both monetary and fiscal policies To handle the challenge Especially foreign factors. In addition, in order to reduce the risk of exchange rate fluctuations Prices should be quoted in Thai baht or local currency.

Impact from flooding Which is expected to cause damage and affect the economy around 20,000 – 25,000 million baht, most of which will be affected by damage to houses and agricultural areas

The Ubon Ratchathani province has experienced the worst flooding in 40 years. Therefore, the government requests urgent assistance. In order to reduce the burden and stimulate the economy to return to normal soon as follows

1. Ask the local administrative organization No collection of all kinds of local maintenance tax such as house tax, sign tax for 1 year for SME entrepreneurs who are affected by the flood.

2. Ask the government to consider reducing interest rates on bank loans for SMEs experiencing floods that still have debt burden with financial institutions.

3. Ask the government to support the new funding to help SME entrepreneurs have working capital. As well as repairing and rehabilitating the establishment and machinery By calculating a fixed interest rate of 1% or lower for 2 years

Mr Lin said that the stimulus measures for the Shoppers Shopping Project were well-received by the public. With a quick registration of 1 million people per day And there are still many participating stores Resulting in this project being successful The private sector is willing to help promote the economic stimulus measures. The Shopping Shopping Tasting Project, which is expected to have circulation in the economy of around 20,000 to 30,000 million baht, can help stimulate the economy by 0.1-0.2%.

"The expansion of the Phase 2 Shopping Tests should be carried out after evaluating the value of the first phase of measures to stimulate the economy. Which may take some time, maybe Songkran Should be careful to use consecutive measures The end of the year is the period when people are spending And the entrepreneurs already have promotions The state should use only during the economic downturn, "said Mr. Lin.