State Planning Unit Sees GDP Growth At 1.2% Y/Y This Year

Spot USD/THB last changes hands at THB32.730, little changed on the day. Topside focus falls on Nov 11 high of THB32.967 and a clearance of that level would bring Oct 18 high of THB33.488 into play. Conversely, a dip through Sep 10 low of THB32.618 would shift focus to Aug 31 low of THB32.215.

• Thailand's National Economic and Social Development Council (NESDC) said that the economy is expected to grow by 1.2% Y/Y this year and by 3.5%-4.5% Y/Y next year. The state planner warned that the gov't needs to focus on preventing resurgence of Covid-19 and stimulating investment. This comes after the contraction of Thailand's economy recorded in Q3 proved smaller than forecast.
• FinMin Arkhom noted that ~THB3.7tn worth of public sector spending and continued growth in exports will support the economy next year. He added that baht weakness has supported shipments this year.
• PM Prayuth chairs a weekly Cabinet meeting today, while parliament will discuss a charter amendment sponsored by several pro-democracy groups. The bill stands little chance of making it through the first reading.