## Thailand: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand

_IMF Staff Country Reports, October 7, 2019_

## Source details

**Canonical URL:** [Thailand: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand](https://www.imf.org/en/publications/cr/issues/2019/10/07/thailand-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-48724)

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## Bibliographic details
- Published: October 7, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513516523.002

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### 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.

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_Source: https://www.imf.org/en/publications/cr/issues/2019/10/07/thailand-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-48724_