Private sector expects 3.8-4.5% GDP growth this year

BANGKOK, Jan 10 (TNA) – The Joint Standing Committee on Commerce, Industry and Banking predicts that the Thai economy will grow by 3.8-4.5% this year and strong baht will affect export. Kalin Sarasin, chairman of the committee, said after its meeting on Wednesday that the economic growth should be at least 4% in the fourth quarter of last year thanks to export and tourism. The committee expects the economic expansion at 3.9% and export growth at 10% throughout 2017. The committee foresees the economic growth of 3.8-4.5% and export increase at 3.5-6% this year. Baht appreciation and the high export base in 2017 would have impacts on this year’s export, he said. Export, tourism and investment from the government and the private sector would be the main engines of the economy this year. The economy would continuously grow but distribution of the growth was a challenge, Mr Kalin said. He viewed that risks factors would include trade measures of the United States, international political tension on the Korean Peninsula and in the Middle East and currency fluctuations. He predicted that inflation would run at 1.1-1.6% this year. (TNA)