Thailand's economic growth may fall short of expectations at under 2.9 percent this year due to weaker-than-anticipated fourth-quarter consumption, despite government stimulus measures. The Bank of Thailand Governor, Sethaput Suthiwartnarueput, expressed concern over the effectiveness of the government's cash handout program, noting that it was used primarily for debt repayment rather than boosting consumption. The central bank anticipates inflation to rise to 1.1 percent this year, remaining within the target band of 1 percent to 3 percent.
cards interface. Give it a try.BANGKOK: Thailand's economic growth may falter at under 2.9 per cent this year on the back of a weaker-than-expected fourth quarter where consumption cratered despite a government cash handout aimed up firing up sluggish growth, the central bank chief said on Thursday .
He said the economy may have expanded close to 2.7 per cent in 2024, with the final-quarter pace weaker than forecast, at north of 3 per cent. Thailand's government is set to roll out the third phase of its signature"digital wallet" programme in April, aiming to spur"very high" growth in the first quarter. The scheme, the ruling party's core election campaign policy, was launched last September after repeated delays.
"It's highly uncertain, and it's very, very early days," said Sethaput, who is set to finish a five-year term in September.
ECONOMIC GROWTH THAILAND STIMULUS INFLATION BAHT
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