Commerce Ministry confident of 3 percent export growth for 2019
Thailand’s Commerce Ministry is confident that Thai exports for the second half of this year will grow at a higher rate than in the first half and export growth for the whole year will not be as bad as initially forecast by the Bank of Thailand and the economic research departments of commercial banks.
Mr. Lawaron Saengsanit, director of the Fiscal Policy Office, said today that the Commerce Ministry is confident that the export stimulus package, introduced by the ministry, and the easing of US-China trade war will help boost Thai export growth to an estimated 3% for the whole year.
He said the Fiscal Policy Office had developed economic stimulus measures for the new government to consider, with the emphasis on encouraging private sector consumption, adding that investments and export growth can help boost economic growth, albeit rather slowly.
Regarding the disbursement of the 2020 fiscal budget, which is expected to be delayed by about three months, Mr. Lawaron said the delay will not affect economic growth because the government is authorized to make use of the remainder of the 2019 fiscal budget.
As for the first quarter investment budget for 2020 fiscal year, which was set at 83 billion baht, he said the government could disburse about 42 billion baht which has already been committed to investment.
He added that the government could speed up the disbursement of old investment budget.