NESDC forecasts Thailand’s growth for this year at 2.5%

1 Oct 05:23 Key points summarised by AI

Thailand's GDP growth forecast for 2023 has been revised down to 2.5% from an earlier 3%, following a weak 1.5% growth in the third quarter.
The slowdown is primarily driven by a 3% average export contraction for three consecutive months, a 4% drop in industrial product exports, and a 4.9% decrease in government consumption during Q3.
Public sector investments are projected to fall by 1.8% this year, largely due to delays in the disbursement of the 2024 fiscal budget.
For 2024, growth is anticipated to range between 1.7% and 3.7% (excluding the digital wallet scheme), with significant boosts to exports and investments required to achieve the government's 5% target.

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

Yesterday 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.