UTCC’s confidence index in Thailand drops by 46.5 points

UTCC’s confidence index in Thailand drops by 46.5 points

By The Nation

 

utc.jpg

FILE photo//UTCC

 

The University of the Thai Chamber of Commerce (UTCC) Centre for Business and Economic Forecasting has announced that the confidence index has dropped to 46.5 points, the lowest in 19 months.

 

Thanawan Polvichai, the centre’s director, said entrepreneurs are facing cashflow problems as people’s purchasing power has dropped. The economy is also being affected by the ongoing US-China trade war, a fluctuating baht as well as low prices for agricultural products.

 

However, he said, the private sector believes the lowest point has passed after the economy grew by 2.3 per cent in the second quarter, the lowest growth figure in five years.

 

He added that stimulus packages and agriculture price guarantees should help revive the economy.

 

“The agriculture price guarantee project should determine whether the economy will recover,” he said. “The money that rubber, rice and palm farmers get will help them plan their finances. In the past four or five years, there were no schemes like this, which is what caused uncertainty in the income of farmers.”

 

The centre has forecast that the Thai economy will expand by 2.6 per cent in 2019, but additional economic stimulus and guarantee schemes may push the figure to 3 to 3.2 per cent.

 

Saowanee Thairoongroj, UTCC’s dean, said the private sector wants the government to initiate stimulus packages as swiftly as well as strengthen measures for natural disasters, boost the quality of Thai products for export, provide low-interest loans to businesses to help them maintain their cashflow and develop technology.

 

 

Source: https://www.nationthailand.com/business/30376046

 

nation.jpg

-- © Copyright The Nation Thailand 2019-09-11
Follow Thaivisa on LINE for breaking Thailand news and visa info
latest news from Thailand

PM and former PDRC leader Suthep have first encounter for 5 years  Prime Minister Prayut Chan-o-cha had his first close encounter in over five years with Mr. Suthep Thaugsuban, the former leader of the People’s Democratic Reform Committee, during his visit to Koh Samui in Thailand’s southern...

READ MORE...

Nationwide donations for flood victimsTanakorn Sangiam  BANGKOK, 14 September 2019(NNT) - People from across the country have continued to donate cash and necessities to help those affected by flooding. In Maha Sarakham, a charity concert has been held with several artists performing to express...

READ MORE...

Worries rise as baht scales six-year highBy The Nation  The baht continued its upward trend, appreciating to Bt30.42 to the US dollar on Friday, up from Bt30.67 the previous Friday, after having risen to a six-year high of Bt30.36 at some time during the day. Regional currencies also moved up...

READ MORE...

Network launches campaign to help women avoid sexual harassmentBy The Nation Nation/Anant Chantarasoot A network of organisations has joined hands to officially launch a campaign seeking people's help in identifying areas in Bangkok city where women could be at risk of sexual harassment, and for...

READ MORE...
sponsors