Bangkok, The Federation of Thai Industries revealed The Industrial Confidence Index in December 2023 decreased due to a slowdown in production capacity during the New Year period. It is predicted that the next 3 months will still be lower than in November 2023, with concerns about the minimum wage adjustment. Ready to propose that the government sector support Easy E-Receipt to stimulate the economy. Mr. Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries (F.T.I.), discussed the results of the industrial confidence index survey. For December 2023, it was at the level of 88.8, decreasing from 90.9 in November. When considering the components of the index, it was found that almost every component decreased, including the index, overall orders, overall sales, production volume. and operating results, while the operating cost index increased. As for the reason for the decline, there are risk factors from the production sector slowing down. Due to the short working days and the continuous holid ay during the New Year Festival In addition, manufacturers have accelerated production in the previous period. Meanwhile, consumers' purchasing power has not yet fully recovered from the problem of household debt remaining stable at a high level. At the same time, there is still the problem of severe price competition. In addition, the construction sector slowed down, especially government construction projects. As a result, the demand for construction material products decreased. On the export side, there is a problem of rising freight rates. In the case of the Houthis in Yemen attacking commercial shipping ships passing through the Red Sea. It affects the transportation of goods, especially between Asia and Europe. However, there are still positive factors in December from the demand for consumer products and fashion products. that increased during the New Year festival and the benefits of the expansion of the tourism sector Meanwhile, the export sector continues to improve as demand from trading partners gradually recovers. In addition, the government's measures to subsidize energy prices By reducing the price of oil and electricity. Helps reduce costs for entrepreneurs Mr. Montree Mahaprukphong, Vice President of F.T.I. Said that from a survey of 1,309 entrepreneurs covering 46 industry groups of the Federation of Thai Industries (F.T.I.) in December 2023, it was found that the factors that entrepreneurs are increasingly concerned about include the global economy at 81.1 percent, the rate Loan interest 72.2 percent exchange rate (Exporter's perspective) with the exchange rate referring to the baht against the US dollar at 45.2 percent, respectively. Factors that are of concern have decreased, including oil prices 48.5 percent, the domestic economy 43.0 percent, the political situation in the country 38.5 percent, according to number Meanwhile, the index forecast for the next 3 months is at 96.2, down from 97.3 in November. There are concerns about the increase in the minimum wage that will affect operating costs. As well as the uncertainty of geopolitical conflicts, it results in commodity prices. (commodities) increased both energy and raw material prices. However, there are still supporting factors from the Easy E-Receipt measure, which is a tax reduction measure for 2024, helping to stimulate domestic consumption during the period 1 January - 15 February 2024. F.T.I. Propose guidelines that the government should take to stimulate the economy, including: 1) Support the Ministry of Energy in restructuring all types of energy to be fair to users. and should allow relevant sectors to participate in providing opinions through the Energy Regulatory Commission. 2) Propose that the government issue measures to help and alleviate the effects of the problem of rising freight rates due to the unrest in the Red Sea. Especially shipping container lines on routes between Asia and Europe. 3) Ask the Revenue Department to expedite public relations and facilitate small and medium sized shops. In submitting a request for the issuance of an electronic tax invoice (E-Tax) in order to be able to participate in the Easy E-Receipt project, which will help expand opportunities for selling products and services. Source: Thai News Agency