Thailand Finance Ministry keeps GDP growth outlook at 3.6%

Thailand Finance Ministry keeps GDP growth outlook at 3.6%

The Thai economy is expected to grow 3.6% this year, as earlier forecast, with exports likely to increase more than expected, the Finance Ministry said on Thursday.

The ministry now expects exports to increase 4.7%, up from 3.3% projected in April, despite a strong baht, Krisada Chinavicharana, head of the fiscal policy office, told a news conference.

The economy will be driven by exports and government spending, while private investment in the construction sector is likely to slow down, he said.

Second-quarter economic growth was estimated at 3.4-3.5%, he said, after 3.3% growth in the first quarter.

Earlier this month, the central bank raised its 2017 economic growth forecast to 3.5% from 3.4%, with exports up 5.0%, rather than up 2.2% projected earlier.

In 2016, the economy expanded 3.2%.

Source: http://www.bangkokpost.com/news/general/1294998/finance-ministry-keeps-gdp-growth-outlook-at-3-6-

Share this post:

Related posts:

Developers are advocating for an increase in foreign ownership quotas for condominiums in select regions to help stimulate economic growth. This comes after observing a sustained rise in demand from international buyers last year, a trend that is expected to...

The Cabinet approved the transfer and mortgage fee cuts on Tuesday and also raised the limit from 3 million baht to 7 million baht for condo and house prices. Normally, the transfer fee is set at 2% of the transaction...