Thai Growth to Stay at 3.6%

Economic growth this year is now almost certain to stay around 3.6% after exports growth remain strong, according to the ministry of finance, Thai PBS reported. Director of the ministry’s fiscal policy office, Krisada Chinavicharana, said the economy in 2017 will be able to achieve 3.6% growth. The figure is an improvement over 2016 which also saw a 3.2% improvement over 2015. He attributed the growth in exports to the improving global economy which is predicted to grow by 3.56%. This will help Thailand to enjoy sustained growth in every export sector not least of which in the agricultural sector which could itself potentially achieve 4.7% growth. Exports on the other hand are expected to grow by 9.7% this year. Krisada also stated that increased government spending is one of the most important driving factors and will continue to do so with the planned increase in budget allocation to 190 billion baht ($5.69 billion) for 2017.