Private sector forecasts higher economic growth than last year

 

BANGKOK, 29th September 2017 (NNT) - The Economic Intelligence Center of the Siam Commercial Bank (SCB) has predicted that the Thai economy will grow better this year than last and the private sector will likely invest more in 2018. 

SCB Macroeconomics Director, Pacharapot Nantramas said today that in 2017 the Thai economy will have expanded more than in 2016 due to a recovery of large economies such as the U.S., the EU and Japan. This also resulted in a 8.9% export growth rate in Thailand in the first eight months this year. The director also predicted that this year's export value will grow by 7% which is the best rate in six years. 

As for tourism, as many as 35.2 million tourists are expected in Thailand in 2017. 

The EIC has adjusted the 2017 Thai economic growth estimate from 3.4% to 3.6%. As for next year, the center has forecast that the economy will grow by 3.5% and the baht will move between 33.50 - 34.50 baht to the USD. The center has reported that there are signs that the private sector will significantly increase investment in 2018. 

The director however remarked that a shortage of laborers due to a new foreign labor law and the decreasing purchasing power of households might affect investment next year.

 

-- nnt 2017-09-29

You mean the tax hikes have cut the working class spend do you?

 

35.2m Tourists where the hell are they going as shops are closing in most places, Oh I forgot the Chinese do not spend much here, they save it for when they go on real holidays to places like London and Buy Buy Buy non fake goods, after all they make most of the fakes so should know how to tell the difference.