Thai economy to sustain recovery

BANGKOK, April 9 (TNA) -- Thailand’s economy is expected to sustain recovery in 2017 and 2018 from last year on the back of higher public consumption, state spending and exports, said Jaturong Jantarangs, Assistant Governor of Bank of Thailand. He said the country’s economy recovered during the fourth quarter of 2016 due to those positive factors. Inflation during the first two months this year rose from end-2016 mainly because of higher prices of oil. The BoT has projected that Thailand’s economy would continue to grow 3.4 and 3.6 per cent in 2017 and 2018 respectively, said Mr Jaturong. Earnings from export this year are projected to grow 2.2 per cent due to higher demand of electronic goods from oversea and relocation of foreign factories to Thailand, he said. On the other hand, government spending on mega telecom projects would help drive the country’s economy, said Mr Jaturong. Private consumption is projected to continue recovery on the back of higher income of agriculturists, he added. (TNA)