News Voices – Stay in-the-know with the latest health updates
Category

Finance

Category
Finance

Finance Ministry Maintains 2023 GDP Growth Outlook at 3.8%

[ad_1]

The Ministry of Finance is maintaining its economic growth outlook for 2023 at 3.8%, helped by a rebound in tourism and domestic demand, but exports are still expected to slow down this year.

Pornchai Thiraveja, head of the ministry’s fiscal policy office, told a briefing that the Thai economy likely expanded 3.0% in 2022, down from a previous forecast of 3.4%, as exports, public investment and private consumption slowed.

Official gross domestic product (GDP) figures for 2022 are due to be released next month. In 2021, GDP grew 1.5%, among the lowest rates in the region.

Pornchai also noted that the tourism sector has been picking up steadily as the world relaxes international travel measures.

Tourism rebond

The tourism sector started rebounding last year with 11.15 million foreign tourist arrivals.

Since the new year began, Thailand has booked 1.34 million foreign tourists.

Pornchai added that the kingdom is expected to receive 27.5 million foreign arrivals this year, up from 21.5 million projected earlier, helped by China’s reopening.

5 million Chinese visitors this year

The government is projecting at least 5 million Chinese visitors this year, about half of the figure in pre-pandemic 2019.

Overall foreign tourist arrivals reached a record of nearly 40 million in 2019, with spending at 1.91 trillion baht (US$58.07 billion). Tourism accounted for about 12% of GDP.

Exports to grow only 0.4%

However, exports – another key driver of growth – could increase just 0.4% this year, rather than rise 2.5% as projected earlier due to a global slowdown.

The ministry meanwhile predicts the baht to average 32.5 per dollar this year after 35.07 last year, as Thailand is among the countries expected to see a continued economic recovery.

Headline inflation expected at 2.8%

Pornchai said average headline inflation is expected at 2.8% this year, down from a 24-year high of 6.08% last year, which was far above the Bank of Thailand’s target range of 1% to 3%.

Information and Source

National News Bureau : http://thainews.prd.go.th

[ad_2]

Source link

by
Keep Reading
Finance

Embracing Financial Freedom with Demat Accounts

Now that we’ve explored the game-changing benefits of demat accounts, it’s time to take action and embark on a journey toward financial independence. Opening a demat account is simpler than you might think. Follow these steps:

  1. Research and choose a reputed financial institution that offers demat accounts.
  2. Visit their website and follow the instructions to open a demat account.
  3. Provide the necessary documentation and complete the application process.
  4. Once your demat account is approved, you can start transferring your existing physical securities, invest in new ones, and watch your wealth grow!

Remember, a demat account is just a tool; how you manage your investments and make financial decisions will shape your journey toward financial freedom. Stay informed, diversify your portfolio, and always consider your long-term goals while making investment choices.

Are you ready to ditch the cash and embrace the power of demat accounts? The financial world is changing, and demat accounts are paving the way toward a future where managing investments has never been easier and more secure. So, why wait? Open your demat account today, and start unlocking the door to financial independence!

Remember, financial freedom is not a myth; it’s an achievable reality for those willing to take control of their financial journey. Let demat accounts be your game-changer and elevate your financial well-being to new heights!

by
Keep Reading