- March 30, 2021
- Posted by: admin
- Category: Daily News
- The government’s ambitious goal of 4% economic growth in 2021 will be difficult, requiring a lot of effort and a host of supporting factors such as higher exports, recovering foreign tourist arrivals and active private investment, says the Finance Ministry’s Fiscal Policy Office (FPO).
- FPO adviser Wuttipong Jittungsakul said if the government hopes to achieve the 4% figure, exports have to expand by more than 6.2%, international arrivals should exceed 5 million and private investment has to expand by more than 3.4%.
- The FPO forecast economic growth at 2.8% in 2021, compared with a 6.5% contraction in 2020.
- Mr Wuttipong said the economy in Feb 21 showed signs of a gradual recovery in line with higher private investment, as reflected by an expansion of capital goods imports by 18.6% year-on-year and 4% growth of exports excluding gold.
- He said overall consumer and industry sentiment recovered in Feb 21, as the consumer confidence index rose to 49.4 (from 47.8 in Jan 21) and the Thailand Industry Sentiment Index increased to 85.1 (from 83.5 in Jan 21), following the easing of the second wave of Covid-19 infections and the government vaccination rollout.
- The government’s consumption stimulus packages also play a vital part in bumping up consumer spending, said Mr Wuttipong.
- Finance Minister Arkhom Termpittayapaisith said the 4% growth goal remains attainable as the country has started its tourism sandbox scheme for foreign tourists in Phuket and Koh Samui.
External Link : https://www.bangkokpost.com/business/2091675/fpo-warns-4-growth-this-year-will-be-difficult