Directions and ideas to enhance the local economy

Thananthorn Mahaphonprajak Bank of Thailand

In the past All 3 regional offices of the Bank of Thailand in the northern, southern and northeastern regions organized annual academic seminars. With the goal of letting the business sector and people in the area know the economic and financial direction, various policies of the Bank of Thailand, including the economic forecast for each sector in the next 2 years, Bang Khun Phrom invites you to think today, so we would like to summarize some interesting points for you. with the reader

Overall economic and financial direction of the country this year The Governor of the Bank of Thailand gave his view that The Thai economy continues to recover. According to spending in the country and tourism sector which is an important economic driving force Although production and exports of goods will recover more slowly than expected due to the global economy slowing down, especially the Chinese economy, it will slow down. Meanwhile, the overall number of foreign tourists still increased as expected. Although Chinese tourists are recovering slowly, however, the picture of economic recovery in each region is different. For the northern economy, it is gradually recovering. but slower than the country as a whole Because it is driven by the agricultural sector quite a lot. and there is a high proportion of workers in the agricultural sector as well as being elderly workers. The manufacturing sector still plays a small role when compared to the country as a whole.

Moreover, in the next period there will be challenges from the effects of drought. As for the southern economy, it is gradually recovering from the driving force of the tourism sector. Even though the number of tourists this year has increased But the money spent was slightly less than expected. In addition, the slowdown of the economy of China, which is an important trading partner of the South, such as rubber exports, will cause the production of the South to contract this year. As for the northeastern economy, the recovery was slower than every other region. Because there was not much good benefit from the tourism sector Meanwhile, Isaan is most connected to the agricultural sector and industries related to agriculture, accounting for more than one-third of the economy. which has further pressure factors from drought and El Niño

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