Public debt-to-GDP ratio fell to 61.2% last month from 61.6% in May, says Public Debt Management Office, GDP stood at Bt17.9trnl at the end of June, up from Bt17.4trnl in Dec.
The BOT expects the fiscal 2023 budget disbursement to be delayed by one more quarter than its previous assessment of one quarter, mainly due to the delay in the formation of the new government.
Egat against further power bill cut: Lowering tariffrate would hit investment. Debt-ridden Electricity Authority of Thailand (Egat) cannot yield to any further requests for cheaper electricity bills in the next four-month cycle as this would affect its future investment in the power infrastructure. Bangkok Post
TAT maintains target of 200m domestic tourism trips in 2023: The Tourism Authority of Thailand (TAT) has retained its target of 200 million domestic tourism trips this year despite tepid consumption. Bangkok Post
Bangkok land price index dips in Q2: The index of land prices in Greater Bangkok in the second quarter dropped from the first quarter due to the economic slowdown, marking the second quarterly decline since the index was introduced in 2012, with the first decline occurring in the first quarter of 2021. Bangkok Post
FTI banking on fresh initiatives: The incoming government must identify new markets with strong export potential, says the Federation of Thai Industries (FTI). Exporters are being advised to seek new markets, following sluggish trade in existing key export markets. ‘‘ Businesses want to discuss exports and other economic issues with the new government to seek help and jointly solve the problems. Montri Mahaplerkpong Vice-chairman, Federation of Thai Industries Bangkok Post
Warning over car sales: Toyota speaks out on government delay. A delay in forming a new government could deal a blow to the Thai automotive industry, which has already experienced sluggish car sales in the domestic market during the first half of this year. Bangkok Post
Economy in limbo amid logjam: The business sector is worried that the lack of progress in establishing the next government could generate greater uncertainty regarding the political and public policy situation, thereby hurting the country’s economic prospects. The private sector is concerned that the extended delay in the formation of the new government could lead to a greater degree of political and public policy uncertainty and adversely impact the economy. Bangkok Post
Power tariff to be cut: Regulator agrees to a 5.3% reduction. The Energy Regulatory Commission (ERC) has agreed to reduce the power tariff by 5.3% to 4.45 baht per kilowatthour (unit), which will lead to cheaper electricity bills between September and December. Bangkok Post
Survey spells out financial stress facing householders: Household debt was found to have increased by 11.5% this year over 2022, the highest level in 15 years, with the rate expected to peak next year if the economy fails to fully recover, according to the latest survey by the University of the Thai Chamber of Commerce (UTCC). Bangkok Post
Regarding 6., the FTI saying: ‘The incoming government must identify new markets…’:
I’d rather say for now it looks like every thai exporter is on his own here and might be for some time to come still. don’t expect any still not existing incoming government to help in the next few months.
peter satrapa-binder
Regarding 6., the FTI saying: ‘The incoming government must identify new markets…’:
I’d rather say for now it looks like every thai exporter is on his own here and might be for some time to come still. don’t expect any still not existing incoming government to help in the next few months.
it would be great if i’d be wrong here.
Pon
I wouldn’t be surprised to see a massive increase in 1. FDI and 2. Stimulus should Pheu Thai lead.
peter satrapa-binder
agreed – but the question is still whether and when they will (be allowed to) lead.
Pon
Yes.