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Thailand’s GDP for Q3 contracts 0.3%, forecast to increase by 1.2% for whole year - NESDC

13 Sept 13:44 Key points summarised by AI

Thailand's Gross Domestic Product (GDP) contracted by 0.3% in the third quarter, primarily due to a significant drop in private consumption amidst a surge in COVID-19 infections.
Despite the Q3 contraction, the National Economic and Social Development Council (NESDC) forecasts an overall 1.2% GDP increase for the entire year.
Looking ahead, NESDC projects robust GDP growth of 3.5-4.5% for the next year, driven by a recovering tourism sector, expanding exports, and revitalized domestic demand.

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.