The Fiscal Policy Office (FPO) under Thailand’s Ministry of Finance has raised its growth forecast for the country in 2017 by 0.2 percent to 3.6 percent.
Bangkok (VNA) – The Fiscal Policy Office (FPO) under Thailand’s Ministry ofFinance has raised its growth forecast for the country in 2017 by 0.2 percent to3.6 percent.
Theforecast came after the Government decided to increase mid-year budget spendingto 190 billion THB (5.3 billion USD).
It tookinto account increases of 1.5 percent basic interest, 5.1 percent in publicspending and 10.1 percent in public investment. Meanwhile, the number of foreignarrivals to Thailand is expected to hit 35 million from 32.6 million in 2016.
The FPO saidunder favourable conditions, the economy could even grow 4 percent this year.
FPO Director-GeneralKrisada Chinavicharana noted that the acceleration of state spending would givea boost to export and private investment.
PimchanokVokorpon, Director-General of the Commerce Ministry’s Trade Policy and StrategyOffice, predicted export growth will be between 2.5 and 3.5 percent, addingthat the US’s new trade policies under Trump’s administration would bring bothopportunities and challenges to the Thai economy.-VNA
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Rice sold at a store in Bangkok (Photo: AFP/VNA)
