The economy decelerated slightly. Manufacturing and private consumption weakened while exports and tourism continued to support growth. Growth is projected to accelerate to 2.4 percent in 2024, with further improvement expected in the second half of the year driven by increased budget execution and goods exports. Despite low government investment disbursement, the THB 10,000 cash handouts for low-income households may stimulate growth. However, flooding poses downside risks to growth and may add to price pressure. Inflation edged up due to fresh food and core inflation. The Thai baht appreciated due to expectations of a Federal Reserve easing cycle and a current account surplus. The Bank of Thailand (BOT) unexpectedly lowered the policy rate by 25 basis points to 2.25 percent.
Authors
- Disclosure Date
- 2024/10/22
- Disclosure Status
- Disclosed
- Doc Name
- Thailand Monthly Economic Monitor
- Pages
- 4
- Published in
- United States of America
- Series Name
- Thailand Economic Monitor;
- Unit Owning
- EFI-EAP-MTI-MacroFiscal-1 (EEAM1)
- Version Type
- Final
- Volume No
- 1
Table of Contents
- THAILAND MONTHLY ECONOMIC MONITOR 1 1
- Ear 1
- THAILAND MONTHLY ECONOMIC MONITOR 2 2
- Goods exports growth continued to expand but the outlook remained uncertain. 2
- Inflation edged higher but remained among the lowest in emerging markets. While the governments investment budget disbursement remained low the THB 10000 cash handouts can boost growth going forward. 2
- THAILAND MONTHLY ECONOMIC MONITOR 3 3
- The Thai baht appreciated due to the Feds easing cycle and a current account surplus. The Bank of Thailand BOT reduced the policy rate in response to tightened financial conditions. 3
- Prepared by Warunthorn Puthong Economist. For further questions please email wputhongworldbank.org 3
- THAILAND MONTHLY ECONOMIC MONITOR 4 4
