The overall situation of Thailand in 2023, in addition to having to face political changes

from adjusting the balance of power of political poles

with a big election battle

is the organizer of the new power pole

The economic situation is also worth keeping an eye on.

Although many agencies will analyze that

Thai economy after recovery from the COVID-19 crisis

will grow by 3-3.5% in 2023 and will continue to grow

from the virtue of the tourism sector, the consumption sector, as well as the injection of money to stimulate the government's economy

But there are still risk factors that we cannot control, such as the global economy slowing down and entering a clear recession, inflation and interest rates.

Although expected to decrease in 2023, the main factor is energy and raw material prices are still high.

affecting the manufacturing sector all over the world.

which was a direct effect of the Russo-Ukrainian War.

Geopolitical conflicts in many points between the US-China-Russia.

inevitably affects many economic zones

Although there are many negative factors, there are still positive factors from the policy adjustment from

came to open China's country.

After the pressure from the protests of Chinese people across the country could not stand the pressure.

With the influence of a nation with the world's second-largest economy, it will have a positive effect on trading partners, especially Thailand, which remains the main engine to drive the economy.

is the tourism sector

It is expected that around 5 million more Chinese tourists will come to Thailand.

It is expected to generate a total of 1.5 trillion baht if the tourism sector recovers well.

It will help direct and indirect employment of more than 10 million workers, helping the overall economy of Thailand improve.

that is also worrisome

is a matter of spending

public consumption

that encountered problems with rising household debt and exports, especially in disbursement of the government budget

Where the timeline for the election period overlaps with the 2024 budget preparation period, it is expected to be delayed until November-December.

From the original that will start a new budget on October 1

which will fully affect the government's investment expenditure plans

From the 2024 budget framework that the Cabinet recently approved a budget of 3.35 trillion baht.

Adjusted from the year 2022 at 3.185 trillion baht, an increase of about 1.65 billion baht, setting a deficit of 5.93 billion baht.

The government maintains the proportion of investment budget at 20% or about 700 billion baht of the 2024 budget.

Even the director of the Budget Office

Will confirm that there is preparation to support

If the preparation of the 2024 budget is delayed

By preparing a draft regulation for disbursement and budget allocation for the time being

for a period of 6 months

That's just part of the regular expenditure.

civil servant salary

agency expenses

organizations

but cannot spend the budget for investment

May affect the number of economic forecasts again.

solar fire