Center for Economic and Business Forecasting University of the Thai Chamber of Commerce Revealing the survey results from the perspective of domestic entrepreneurs. which saw that it was also benefited from the increasing number of Chinese tourists And there is money flowing during the election period, causing the economy to expand by more than 3% in 2023, but still worried about the impact from many aspects. Both from inflation, oil prices, wages, as well as the increase in electricity prices. and would like to see a stable new government and have good economic policies

Mr. Thanawat Phonwichai, President and Chairman of the Advisory Center for Economic and Business Forecasting University of the Thai Chamber of Commerce by Trade Strategy Institute University of the Thai Chamber of Commerce A survey of entrepreneurs across the country, most of which 76% are small businesses. Both in the service sector, trade, industry and agriculture. Regarding the "impact of the business sector on the current Thai economy", it was found that the current business situation remained stable compared to the same period last year. But believe in the next 6 months will start to improve. and returned to normal during the pre-Covid-19 situation During the fourth quarter, as the COVID situation unfolded more resulting in business activities and the economy recovered together with the recovery of the tourism sector from the return of Chinese tourists And elections make more money flow in the economy. But there are concerns about the policy. that will affect the cost of doing business and policies that may will not be continuous

In addition, the business sector is still affected by the inflation situation. that affects the cost minimum wage Including the increase in electricity bills Although it is currently slowing down to 5.33 baht per unit, but has a direct impact on costs. By considering that the electricity cost should be at 3.94 baht per unit and there is still an impact from the increase in diesel prices. which if rising again will not be able to bear the cost And it is necessary to increase the price of goods, which the government should take care that the price does not exceed 30 baht per liter, therefore it is estimated that the Thai economy in 2023 will recover in the fourth quarter in the range of 3.35-3.82% or an average of 3.42%, ready to request to the government Issue measures to mitigate impacts, especially to take care of the costs of the private sector appropriately. and expedite the disbursement of the budget continuously, especially during the time of the interim government and still unable to form a new government including promoting tourism from abroad and in the country as appropriate To stimulate the economy during times of global economic uncertainty

“Believe that the Thai economy will recover from the second half of the year And more pronounced in the fourth quarter if the election goes on schedule. stable government and have good economic policies By the intense competition of this election will result in intense campaigning There is a circulating budget between April and May, about 100-120 billion baht, which will help stimulate the economy in the second quarter, growing 3-4% before getting a new government in August. which resulted in the overall economy Increased by 0.5-0.7%. Concerns during the political vacuum. During the third quarter after the dissolution of the parliament depends on the government When will it be established? because if caught up in August There will be a binding budget for fiscal year 2024 that will have to be considered by the parliament. continuity Including if there is no political conflict, the Thai economy can still expand by 3-4%, etc., ”said Thanawat.-Thai News Agency

Source: Thai News Agency