WB Forecasts Thai Growth at 4.1%

Thailand’s economy is expected to grow by 4.1% this year, the fastest pace since 2012, according to the latest edition of the World Bank’s “Thailand Economic Monitor”, released on Monday, TNA reported. The country’s economic recovery is broadening in 2018. While rapid export growth continues fuelling the economy, an increase in capacity utilization and acceleration in capital goods imports suggest a nascent domestic demand recovery as well, the WB report said. Regulatory reforms and overall policy stability are contributing to continuing improvements in business sentiment. “With economic growth exceeding 4% this year, for the first time since 2012, Thailand has the potential, with intensifying structural reforms, to raise productivity and grow even faster over the medium term,” said Ulrich Zachau, the WB director for Thailand, Malaysia and Regional Partnerships. “In addition to education and skills reform and strong implementation of quality infrastructure investments, increasing competition, especially in services, will be key for boosting innovation and lifting Thailand on to a new path of higher, long-term growth,” he said.