NESDB:Thai economy is likely to grow by 4-5% in 2014

BANGKOK, November 18 (TNA) - The National Economic and Social Development Board (NESDB) has predicted that the Thai economy should grow by 4-5 per cent next year, boosted mainly by the government's mega infrastructure development projects. NESDB Secretary-General Arkhom Termpittayapaisith told journalists on Monday that the value of Thai exports in 2014 should increase by 7 per cent and household consumption and investment should expand by 2.7 per cent. Arkhom acknowledged that factors which should boost the national economic growth next year include the Thai government's investment, including that in its 2.2 trillion-baht infrastructure development projects, and the recovering world economy, which should grow by 3.5 per cent in 2014. The NESDB chief cautioned that risk factors remain next year, including a slow growth of Thai exports and limited increase in domestic household spending and private investment. The NESDB chief said his office has also revised the national economic growth rate this year downward to 3 per cent, from 3.8-4.3 per cent, because Thailand's export growth is lower than expected, the value of Thai exports in US dollars does not increase from its value last year, domestic automobile production is unlikely to reach its target, government investment is not met its target and there are impacts from recent flooding. According to the NESDB secretary-general, ongoing political protests have not yet affected domestic tourism. (TNA)