Thailand’s economy grew 3.9% in 2017

BANGKOK, Feb 20 (TNA) -- Thailand’s economy grew 3.9% in 2017, the strongest in five years with increasing private consumption and exports. The National Economic and Social Development Board (NESDB) on Monday announced the less-than-expected GDP growth in the fourth quarter last year. NESDB Secretary-General Porametee Vimolsiri said consumption and private investment and exports continued to grow but government investment dropped in the fourth quarter. However exports and tourism had been strong resulting in the best economic performance in five years, said Mr Porametee. The NESDB maintained its positive outlook for economic growth this year, predicting 4.1 percent, or in the range of 3.6-4.6 percent, with exports as the main driving force, he said. The agency has revised up the export outlook to 6.8 percent growth from 5 percent. Expediting government budget disbursements, private investment and export promotions remained the key tasks for the government in its bid to spur growth, said Mr Porametee. (TNA)