ID :
410551
Sat, 06/25/2016 - 10:58
Auther :

Standard Chartered bank forecasts Thailand’s GDP to grow 4%

BANGKOK, June 25 (TNA) -- Usara Wilaipich, a senior economist at Standard Chartered Bank (Thailand) Ltd , says her bank forecast that Thailand’s gross domestic product (GDP) in 2016 would sustain growth of 4 per cent while export advance 3 per cent. Thailand’s economy during the first half this year is expected to grow 3.6 per cent and would continue to grow to 4.4 per cent during the second half, making the country’s economy to grow to between 3.5 – 4 per cent during 2016, said Ms Usara. Major factors which are projected to drive the country’s economy forward are seven major transportation projects worth altogether 580 billion baht which would implemented during the second half of 2016, she said. These projects would induce private businessmen to invest in the country. Exports are projected to grow 3 per cent in 2016, said Ms Usara, adding that although Thai manufacturers are facing production problems, prices of agricultural products, Thailand’s key export, are expected to rise after oil prices increased. Higher oil prices would push inflation to increase to more than 1.5 per cent during the second half, she said. This would maintain the Bank of Thailand’s policy interest rate at 1.5 per cent until the end of 2016. The Thai baht could weaken to 36 baht against the US dollar in short-term following the Brexit, she said. But the baht could rebound to 34 baht against the greenback from late this year until early 2017 on high expectations of foreign inflows. (TNA)

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