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Kasikorn Research Center maintains at 2.6% its GDP growth projection for 2024
Kasikorn Research Center has maintained its GDP growth projection for Thailand at 2.6% for the year.
While economic growth is expected in Thailand, several internal and external risks could affect the economic outlook. KResearch recommends government intervention to mitigate these risks and support economic growth.
KResearch Center maintains its GDP growth projection for Thailand at 2.6% for the year. This projection considers the following factors:
Positive Factors:
- Increased economic activity in the latter half of the year: This includes growth in exports, investment, and tourism during peak season.
- Continued government initiatives: These initiatives are expected to support economic growth.
Negative Factors:
- Recent flooding: Estimated damages of around 20 billion baht, potentially rising to 30 billion, pose a risk to economic growth.
- Global economic slowdown and weakening domestic demand: These factors could negatively impact Thailand’s economic outlook.
- Geopolitical developments and falling global interest rates: These could impact safe asset prices, contributing to record high gold prices and market volatility.
- US presidential election: The outcome could affect trade, investment policies, and international relations.
KResearch Recommendations:
- Boost people’s income.
- Improve public access to loans.
- Streamline regulations to enhance business competitiveness and attract foreign investments.
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