Bangkok, The Chairman of the Thai Chamber of Commerce and the Board of Directors of the Thai Chamber of Commerce stated that the 2024 budget totals more than 3.48 trillion baht, although it is delayed, but it is very important. To use to stimulate the economy in 2024 to recover. Emphasize that Thailand must face many factors affecting the economy. If delayed, the Thai economy will definitely not grow. Ready to present 4 ways to stimulate the Thai economy to recover.
Mr. Sanan Angubolkul, Chairman of the Thai Chamber of Commerce and the Board of Trade of Thailand, mentioned that the Council’s consideration of the fiscal year 2024 budget of 3.48 trillion baht in the first period was It is seen that the consideration process is completed and the actual disbursement can be made in the next 3-4 months, which is very important. In 2024, we must speed up progress in stimulating the Thai economy. Because now there are many risk factors for the world economy, causing a tendency to slow down. Plus, Thailand must have
additional measures to help the economy recover in time. along with transitioning the economy to new challenges
For the Thai economy in 2024, the Chamber of Commerce estimates that the overall economy is more likely to recover. Preliminarily, it is expected that the Thai economy in 2024 will expand by 2.8-3.3%, with positive factors coming from the recovery trend of the tourism sector. as well as events promoting important festivals of the country Including visa exemption measures for tourists in many countries that are targeted to attract more tourism. Targeting 33-35 million foreign tourists this year, the export sector is likely to turn positive due to the recovery trend of trading partners’ economies and the government’s aggressive foreign policy that focuses on 10 target countries. There will be an expansion of exports throughout the year by approximately 2.0 to 3.0% and overall inflation will increase to a level of 1.7 to 2.2%.
However, a negative factor that must be closely monitored is the uncertain
ty of the world economy that may slow down. The issue of the Russian, Ukrainian, and Israeli-Palestinian wars is unclear as to how they will end. will continue to put pressure on the world economy As for the fragility factors in the country, such as household debt Ability to repay debts of the business sector, especially SMEs, ability to access credit in the system The start of the BoT’s responsible lending measures that emphasize discipline in not creating excessive debt. Situation of entering Thailand’s aging society Flood and drought problems that may occur quickly and for a long time This will have a severe and widespread impact on the agricultural sector. Therefore, it is necessary for Thailand to accelerate the long-term restructuring of the economy in order to compete and grow to its full potential as quickly as possible.
The Thai Chamber of Commerce has made suggestions. In the guidelines for stimulating the economy, there are 4 areas: 1. The country’s competitiveness. It is measured by the competiti
veness of SMEs, which are the majority of the country’s entrepreneurs. Today, the Thai economy is growing slower than its potential. An important factor that cannot be mentioned is The ability of Thai SMEs that has not yet recovered from the recent slowdown in spending Therefore, it is necessary for the government to urgently inject money to stimulate the economy. To help SMEs earn income and return to competition. and have access to systematic funding sources including taking care of expenses Business costs are reasonable and competitive. In the long term as well
2. The problem of increasing Thai household debt and informal debt. Solving debt is done seriously, emphasizing continuity. Even though it requires many agencies to participate, both the administrative side financial institution and community leaders in each area But it is a good thing that the government is giving importance to solving the debt problem throughout the system. Because in the end, it will be a drag on the country’s competitiveness. T
he Chamber of Commerce sees that The government needs to take additional measures along with solving the debt of the people so that they do not fall back into additional debt.
3. Developing the country’s infrastructure Along with attracting new investment in new businesses in the country is very necessary and we see that this government has given importance. But just as important as laying down infrastructure and providing investment benefits is facilitating the business sector, Ease of Doing Business and Ease of Investment, which must see results. Unlocking concerns that make investing difficult This part will greatly enhance the attractiveness of Thailand in the future. Including the distribution of development and upgrading of various cities. All over the country, not just growing in main cities. The local economy must also be stimulated.
4. The matter of eGovernment is very important. It will truly help provide convenience to the people and enhance flexibility in business operations. As the Chamber of C
ommerce Discuss with the Ministry of Commerce in Reduce the use of documents that need to be requested again. and signing to certify the copy It is a connection of various data. If the government sector can connect information among itself thoroughly By adjusting the work process and procedures itself, it can facilitate the public and the business sector to be more convenient and faster.
Source: Thai News Agency