The private sector cuts economic growth forecast to 2.7-3% from 2.9-3.3%

13 Sept 10:40 Key points summarised by AI

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) lowered Thailand's economic growth projection (GDP) to 2.7-3% from 2.9-3.3% due to a weak performance in the first three quarters.
Key factors dampening growth include the global economic slowdown, US-China trade tensions, a strong baht impacting exports and production, and weak domestic consumption and investment.
The committee also predicted a continuing contraction of exports, revising the forecast range further downwards.
Government stimulus programs, like Chim-Shop-Chai, are expected to provide only a marginal boost of 0.1-0.2% to the economy.
JSCCIB proposed the central bank use Thai baht and other regional currencies for trade to reduce foreign exchange risks and recommended financial aid for flood-affected SMEs.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.