On March 12, 2019, Mr. Amorntep Jawala, executive at CIMB Thai Bank's research department, revealed that in 2019, Thailand's economy is expected to slow down in the first and second quarters to around 3.2-3.3%. This is due to most private investors waiting to see the stance and stability of the new government after the elections, as well as facing severe drought conditions this year. Key agricultural crops being harvested during the dry season are not meeting estimates, resulting in decreased production, which impacts agriculture, exports, and tourism.

“In the past month, the Thai economy has slowed down somewhat, but not significantly, due to various factors, including the uncertainty before the elections. We must place our hopes on the new government, which we will have to see how much they will continue long-term economic projects,” Mr. Amorntep stated.

For the second half of the year, starting from May onwards, it is expected that Thailand's economy will grow again, reaching 4.2%. This figure is not very broad but shows growth from the first and second quarters. This is due to the completion of the elections and the beginning of policy allocations, which will boost private investors' confidence in the government's stability, making it easier for them to decide on investments.

External factors that have negatively impacted exports and tourism are expected to show signs of recovery, due to the global economic slowdown, particularly from China. However, it is believed that China has ways to resolve its economic issues and improve again, along with the ongoing trade war between the U.S. and China, which has been prolonged but seems to be moving towards better negotiations.

Nevertheless, after the elections, the new government must prepare to handle the Thai economy, which is in a downturn. They need to find ways to stimulate the economy and continue long-term economic policies while also facing changes in the global economy. Therefore, the new government must strive to maintain economic stability and prevent further slowdown, aiming to restore Thailand's economy to a better state.

 

Thank you for the information from www.thaipost.net