Thailand: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand
IMF Staff Country Reports, October 7, 2019
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- Thailand: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand
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Bibliographic details
- Published: October 7, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513516523.002
Key findings on resilience and policy framework
- Thailand’s robust policy framework and ample buffers continue to underpin its resilience to external headwinds.
- The authorities have taken measures to strengthen medium-term fiscal management and financial stability.
- Subject areas covered include: Commercial banks, Financial institutions, Financial sector policy and analysis, Financial sector stability, Foreign exchange, International trade, Public debt, Trade balance.
Outlook and growth projections
- Growth is projected to slow down to about 3 percent in 2019–20 reflecting external and domestic headwinds.
- On the external side, the projected slowdown in global demand and uncertainty about trade tensions are expected to weigh on exports throughout 2019.
Policy recommendations and fiscal stance
- IMF staff recommends a front-loaded fiscal impulse in FY 2020.
- Thailand should use available fiscal space judiciously to spur domestic demand and support potential output.
- Implementation of macro-critical public infrastructure projects would also crowd in private investment.
Structural reforms to boost inclusive growth
- Structural reforms aimed at:
- improving the implementation of public investment,
- strengthening social safety nets,
- raising productivity in an increasingly digital economy,
would boost growth and enhance its inclusiveness.
Keywords and notable issues highlighted
- Keywords: Commercial banks, condo price, CR, Financial sector stability, Global, government, headline inflation, housing loan demand, ISCR, National Anti-Corruption Strategy, Thai baht, Trade balance, training scheme, U.S. dollar.
Content in this bundle
- 1thaea2019002