KBank:Thai economy will expand further in 2014

BANGKOK, September 11 (TNA) - Bangkok-based Kasikorn Bank (KBank) has projected that the Thai economy should expand further next year, by 4.5 per cent, thanks to the recovering world economy. KBank President Teeranun Srihong made the prediction on Wednesday, foreseeing that the Thai government's spending on new investment should also further boost the national economy next year. Teeranun said he believes that the Thai government will be implementing some of its projects and pay out money for important projects next year. Besides, the likely alleviation of political violence in foreign countries will increase consumers' confidence in overseas markets and if the depreciation of the Thai baht continues at the present level, Thai exports should also pick up next year. The KBank president also assessed that the Thai economy should continue to slow down in the rest of this year, as the disbursement of the government's 2014 fiscal budget and its over 2-trillion-baht infrastructure development projects are likely to be delayed. (TNA)