The Northeastern economy in the 4th quarter of 2023 shrank from the previous year. Although there is a supporting factor from tourism

Bangkok: Bank of Thailand The Northeastern Regional Office (BoT) issued a press conference on the Northeast economy. Overall, the economy in 2023 in the 4th quarter shrank from the previous year. Although there is a supporting factor from tourism Dr. Songtham Pinto, Senior Director Bank of Thailand The Northeastern Regional Office (BoT) issued a press conference on the Northeast economy. Overall, the economy in 2023 shrank from the previous year. Although there is a supporting factor from tourism from shrinking income of the agricultural and non-agricultural sectors Including government spending stimulus measures decreased compared to the previous year. Meanwhile, the cost of living in consumer products is still high. In addition, the trend of pickup truck registrations and sales of homes in the lower and middle levels decreased. from decreased income and caution in considering loans of financial institutions for the 4th quarter of 2023, Isaan economy There is short-term momentum from temporary factors. cau sing private consumption to improve following larger economic activities such as the Loy Krathong festival and special holidays And there are people from outside the area who help stimulate spending. Including measures to help reduce the burden of living expenses. However, the economic outlook in 2024 is expected to gradually recover in some economic sectors, such as the trade sector, from improved consumer confidence. It has a positive effect on tourism. In addition, more foreigners are coming to visit Isaan. and construction sector From government expenditures that will increase in 2024, while the industrial and real estate sectors remain stable. and agricultural production that decreased as a result of the drought from 2023 Source: Thai News Agency