Thai growth upgraded as cash handout improves outlook

Quick Summary:

Analysts have upgraded Thailand's GDP forecast for this year and next to 2.8% and 3%, respectively, thanks to the government's cash handout lifting the economy, but warned of an "economic cliff" in 2026 if no new growth engine is introduced.

BofA said the revised GDP estimates reflect the fiscal stimulus, optimism for the new government's policies, and a cyclical upturn in exports and manufacturing.

"The improved exports for some products are likely due to 'rerouting', or changing the trade route from China to the US directly to sending products via Thailand to avoid tariff barriers, which may have relatively little added value domestically".

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Article Details

Category: EconomyBusiness

Markets: ThailandChina

Topics: Stimulus Year Thailand Cash Noted Economy Thai Research Economic Handout Growth

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 06:44:00 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 503 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Bangkok Post

News ID: 23094909

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