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Thai consumer confidence to the lowest level in 42 months

14 Sept 11:33 Key points summarised by AI

Thailand's Consumer Confidence Index (CCI) plunged to a 42-month low in May, driven by widespread concerns over rising oil prices, the Middle East conflict, and the escalating cost of living.
Despite the current decline, the CCI is projected to improve from June to September, buoyed by the government's 'Thai Chuay Thai Plus' scheme, expected to inject 50-60 billion baht monthly into the economy.
Business confidence also saw its third consecutive monthly drop, primarily due to high diesel prices increasing production costs and a sharp decline in employment.
Experts forecast Thai GDP growth for 2024 at 1.6-2%, with potential to exceed 2%, contingent on the success of the stimulus scheme and developments in the Middle East.

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.