BoT chief chided over revealing policy stance: Finance minister concerned by revelation to foreign media. Finance Minister Pichai Chunhavajira has cautioned the Bank of Thailand governor for saying during an interview with foreign media that it is not Thailand’s policy to make continuous interest rate cuts, following the central bank surprisingly trimming the country’s policy rate by 0.25 percentage points to 2.25% on Oct 16. Bangkok Post
Agency undaunted by public debt level: Tally remains below the 70% threshold. The government’s level of public debt is not yet a concern compared with countries that have a similar credit rating to Thailand, according to the Public Debt Management Office (PDMO). Jindarat Viriyataveekul, public debt advisor for PDMO, said the government’s public debt level remains within acceptable limits, not exceeding the threshold of 70% of GDP. Bangkok Post
Egat believes it can challenge players with larger scale in the electric vehicle charging outlet business.: Plans calls for 210 novel outlets. The Electricity Generating Authority of Thailand (Egat) is scaling up its electric vehicle (EV) solution services, especially the expansion of charging outlets, to benefit from the growing EV industry and support the country’s efforts to reduce carbon dioxide emissions. Bangkok Post
Government’s set an ambitious target of handling a million flights nationwide next fiscal year, up from 836,513 in 2024 fiscal year, following the opening of Suvarnabhumi airport’s third runway earlier this month, Deputy Transport Min said.
Finance Ministry and BOT chief are set to meet to establish the inflation target range for 2025, with the Finance Minister proposing an increase of 0.5% over the current target range of 1-3%.
Exports poised to hit new high of $290bn in 2024: Exports this year could exceed the target of 2%, reaching a new high of US$290 billion. Poonpong Naiyanapakorn, directorgeneral of the Trade Policy and Strategy Office (TPSO), said exports this year could exceed the target of 2%, with the value expected to reach a record high of $290 billion, driven by demand for agricultural and food products, as well as electronic and electrical appliances, supported by the economic recovery of major trading partners such as the US and the European Union. Bangkok Post
Tourism rev may miss Bt3trl t/g, Govt now aims for Bt2.78trl, yet arrivals are expected to exceed 36.7m t/g, after 28.4m YTD.
Associations see minimal impact from rate cut: Three property associations forecast a slim impact from the recent policy rate cut, as interest rates for mortgages were reduced by only 0.125%. Bangkok Post
Ministry predicts 2.7% growth this year: Outlook for 2025 is 3.0% uptick. Foreign arrivals are expected to reach 36 million this year, a 27.9% increase from 2023, generating 1.69 trillion baht in revenue, up 37.4%. The Finance Ministry’s Fiscal Policy Office (FPO) forecasts Thai GDP growth of 2.7% this year and 3% in 2025. Fiscal policies have been fully utilised to stimulate the economy and additional support from monetary policy is needed to lift growth, said the FPO. Speaking during the ministry’s economic projection briefing for 2024 and 2025 yesterday, Pornchai Thiraveja, director-general of the FPO, said the office maintains its 2024 growth forecast at 2.7%, within a range of 2.2-3.2%, unchanged from July’s estimate. Bangkok Post
SCG is temporarily pausing operations at its petrochemical plant in Vietnam as demand cools.: SET-listed Siam Cement Group (SCG), Thailand’s largest cement maker and industrial conglomerate, has suspended operations at its Long Son Petrochemicals (LSP) complex in Vietnam in order to cope with high production costs and the impact of a downturn in the global petrochemical market. Bangkok Post
