Private sector raises projection on Thailand's export growth 2017

BANGKOK, July 5 (TNA) - The Joint Standing Commitee on Commerce, Industry and Banking (JTCCIB), Thailand's main tripartite-private sector, has raised its projection on the country's export growth this year to 3.5-4.5 per cent year-on-year, from 2.0-3.5 per cent year-on-year anticipated earlier. Pridi Daochai, President of the Thai Bankers Association, told journalists on July 4 that the upward projection of Thailand's export growth in 2017 is cushioned by the well-growing Thai exports during the first five months of this year. Pridi said the private sector's new projection of Thailand's export growth this year is approaching to the 5-per cent-growth targeted by the Thai Ministry of Commerce. However, the Thai Bankers Association's chief cautioned that the fluctuating value of the Thai baht, an uncertain direction of the global financial market and impacts from declining world oil prices remain major risk factors for Thailand's export growth during the rest of the year. Meanwhile, JTCCIB has maintained its projection on Thailand's gross domestic product (GDP) growth this year at 3.5-4.0 per cent, but lowered its forecast figure on the country's inflation from 1.0-2.0 per cent on average to 0.5-1.5 per cent on average, thanks to a low level of inflation on average during the first half of this year. (TNA)