Thailand Business News
Thailand Business News

NESDB projects 1.5-2.5 percent growth in 2020

Must read

PM urges stringent punishment of forest arsonists

BANGKOK (NNT) - The air pollution level this morning has been of concern...

Supermarkets asked to drop palm oil price by 2 baht

BANGKOK(NNT) - The Ministry of Commerce has asked retailers and shops to reduce...

Cabinet ministers discuss third phase of economic measures

BANGKOK (NNT) - After acknowledging the severe impact of the coronavirus disease 2019...


This year, the country’s economy is facing another big concern from the COVID-19 virus situation. With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.

Last year, the Thai economy has already suffered from many negative impacts such as the ongoing trade war, national drought disaster, and the appreciating Thai baht, all of which has resulted in only 2.4 percent economic growth.

The NESDB Secretary General Tossaporn Sirisamphan has released the Q4 2019 Thai economic report showing 1.6 percent growth, which is the lowest in 21 quarters. The performance of the final quarter means 2019 economic growth of 2.4 percent overall.



The NESDB cited the global economic slowdown, the U.S.-China trade war, strong Thai currency, budget bill delays, and the drought disaster to be the main affecting factors.

!function(e,i,n,s){var t=”InfogramEmbeds”,d=e.getElementsByTagName(“script”)[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(“script”);o.async=1,o.id=n,o.src=”https://e.infogram.com/js/dist/embed-loader-min.js”,d.parentNode.insertBefore(o,d)}}(document,0,”infogram-async”);

This year, the NESDB is projecting 1.5-2.5 percent growth, which has been reduced from the previous 2.7-3.7 percent estimate. This is due to the effects of the COVID-19 virus expected to remove at least 150 billion baht’s revenue from the tourism industry, should the situation be under control by March. Drought disaster and…

Read the complete story on Thailand Business News

More articles

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest article

PM urges stringent punishment of forest arsonists

BANGKOK (NNT) - The air pollution level this morning has been of concern...

Banks assure no new account needed for assistance payments

BANGKOK (NNT) - Krungthai Bank (KTB) and the Government Savings Bank (GSB) have...

Cabinet ministers discuss third phase of economic measures

BANGKOK (NNT) - After acknowledging the severe impact of the coronavirus disease 2019...

Diversification and Real Estate – Real Estate

Diversification is a key strategy to form a crisis-proof portfolio of assets. Investors must find sound investments in which to place their wealth while...

COVID-19 could cut 30 million jobs in the tourism industry in Asia – Tourism, Travel

The World Travel and Tourism Council has warned the COVID-19 pandemic could cut 50 million jobs worldwide in the travel and tourism industry.Asia is...