Thailand’s economy will grow between 3-4% this year: NESDB

BANGKOK, Feb 21 (TNA) -- Thailand’s economy will grow between 3-4% this year, the Office of the National Economic and Social Development Board (NESDB) predicts after the government announced 3.2 percent growth in 2016. The NESDB released by last year’s figures on Monday showing the economy expanded by 3.2 per cent last year, up from 2.9 per cent in 2015. NESDB Secretarty General Porametee Vimolsiri said Monday that the forecast was based on expected growth of exports and higher government’s spending. Thailand’s exports should pick up and expand 2.9 percent while government infrastructure development projects were in the pipeline, he said. Four large projects worth Bt45 billion are underway while dozens more with a combined investment value of nearly a trillion baht are on the way. Deputy Prime Minister Somkid Jatusripitak said 2016 GDP growth was a satisfactory given the global economic outlook. This year, both government spending and private investment would push the country’s GDP to grow 3.5-4 percent, he said. Finance Minister Apisak Tantiworawong assured that budget imbursements for government’s spending would proceed without delay. (TNA)