JSCC raises GDP forecast to 2.1-2.5% on strong exports

MGR Online•Economy•8d ago

Reader Briefing

The Joint Standing Committee on Commerce, Industry and Banking (JSCC) has raised its GDP growth forecast for the year to 2.1-2.5%.

•Payong Srivanich, Chairman of the Thai Bankers' Association and Chairman of the Joint Standing Committee on Commerce, Industry and Banking (JSCC), stated that the Thai economy in year 69 is likely to grow better than previously assessed.
•JSCC cited higher-than-expected expansion in exports and private sector investment as the drivers for the upgraded forecast.
•JSCC adjusted the GDP growth forecast for this year to 2.1-2.5%, up from 1.6-2.0%.
•JSCC increased the export growth forecast to 12-16%, up from 8-10%.
•JSCC noted that Thailand's domestic value capture has decreased due to high reliance on import content.
•JSCC identified that new investments have created limited employment compared to the past.
•JSCC emphasized the need to build an ecosystem for data centers, including vertical integration and smart manufacturing, to create a real impact on the domestic economy.
•JSCC appointed a Data Center working group to drive the business for maximum benefit to Thailand.

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Payong Srivanich(ผยง ศรีวณิช)

Chairman of the Thai Bankers' Association and Chairman of the Joint Standing Committee on Commerce, Industry and Banking (JSCC).

Thai Bankers' Association(สมาคมธนาคารไทย)

The organization whose chairman also leads the JSCC.

Joint Standing Committee on Commerce, Industry and Banking(คณะกรรมการร่วมภาคเอกชน 3 สถาบัน)

The organization that assesses the Thai economy and adjusted GDP and export growth forecasts.

JSCC(กกร.)

The abbreviated name for the Joint Standing Committee on Commerce, Industry and Banking.

Thailand(ประเทศไทย)ℹ️

The country whose GDP and economic growth are being analyzed by JSCC.