today i have information

"World economy"

and

"Thai economy"

collected from the webinar of

Money and Banking Journal

for information for

Business planning for the year 2023, which will be a very challenging year because there will be

a "recession"

in developed countries such as the US, EU, UK, but developing economies grow against the trend such as China, India, ASEAN (except Myanmar). Only in Thailand, the economy will recover faster than expected.

from the tourism sector and purchasing power in the country

Go listen to the analysis of

Dr. Sethaput Suthiwart-Narueput.

Governor of the Bank of Thailand on the topic of the financial landscape

Challenges to the Thai economy in 2023

Dr. Sethaput said that the global economy in 2023

showed clear signs of a slowdown.

as a result of

The world's major banks raised their policy rates simultaneously.

And it's quite fast and strong.

cause the global economy to slow down

There are also shock stories such as the Russian-Ukrainian War.

This drives up energy prices, food prices, and inflation.

This puts the global economy at risk in many dimensions.

not only covid

Some people may feel that it affects exports.

Some may feel the impact of rising food and energy prices.

Some may feel the impact of a stronger dollar. Next year, 2023, these things remain.

What is worrisome is

Global financial market risks

will fluctuate greatly

normal interest rate hike

Countries with high debt will face problems.

But this time, the risk falls on the most secure countries such as the United States, England.

US government bonds began to have problems with lower liquidity.

selling bonds in large lots

Might be harder to sell

British government bonds are also very volatile.

which is a risk that will be seen more in the future

This is a picture of the global financial economy in 2023.

But the picture of the Thai economy in 2023, the Governor of the Bank of Thailand,

Dr. Sethaput

said with ease that

continues to recover

Although the global economy is slowing down

Exports will slow down. The BOT expects exports in 2023 to grow only 1%, but the recovery of the Thai economy is also favored.

The recovery of domestic consumption is mainly from the recovery of income and the recovery of the tourism sector. The BOT expects that in 2022 there will be 10 million foreign tourists and in 2023 at 20 million workers. Thailand and the Thai economy are quite dependent on tourism. Therefore, the recovery of the tourism sector will help the Thai economy to recover continuously.

It's clear.

The Thai economy next year in 2023 will continue to recover from the end of this year.

The BOT expects GDP in 2023 to grow to 3.7% from 3% in 2022

from the recovery of the tourism sector, which will help Thai workers earn more income.

There is an increase in domestic consumption spending.

I'm not sure.

Governor of the Bank of Thailand

have included numbers

Is the tourism of Thai people in the country included?

This year, Thai people travel in the country very high.

resulting in the economy

In the tourist province, both the main cities and the secondary cities are very bustling.

The matter of

raising interest rates

that Guru expects

The Bank of Thailand will raise interest rates to 2% in 2023. The Governor of the Bank of Thailand confirmed that

will go up gradually

adjust to suit the situation

which may be different from other countries

but suitable for the Thai economy

Foreign inflation comes from a heated economy.

But our house doesn't see this picture.

The main inflation comes from the price of energy and food, engines, so inflation (Thailand) does not stick, so there is no need to raise interest rates quickly and strongly.

All this is

The picture of the Thai economy in 2023, what the Governor

I am very worried about taking measures that increase the burden of debt on people who are in debt, such as debt relief because the debt burden has not disappeared anywhere.

Debt every baht, every satang is still complete.

But will increase the debt burden more in the future.

"The Wind Changes Direction"