Banks forecast 4.5-4.9% GDP growth this year

Thammarat Thadaphrom

 

 

BANGKOK, 4th August 2018 (NNT) – The Government Savings Bank (GSB) and Kasikorn Bank believe the country’s gross domestic product (GDP) will grow within a range of 4.5% and 4.9% this year. 

 

GSB president and CEO Chatchai Payuhanaveechai said this week that his bank has forecast that this year’s GDP growth will be between 4.6% and 4.9% which will be driven by high public spending ahead of next year’s general election. 

 

Despite his optimism, Chatchai warns that the United States’ economic measures for the remainder of this year could potentially hinder Thailand’s economic expansion. 

 

Meanwhile, Charl Kengchon, the managing director of Kasikorn Research Center, said government spending and private investment resulted in Thai economic expansion in the first two quarters of 2018. 

 

Expecting the trend to continue, coupled with sales campaigns and a tourism boom at the end of 2018, Charl said the country’s GDP will soar at the rate of 4.5% which is in line with the Office of the National Economic and Social Development Board and the Ministry of Finance’s forecasts. 

 

 

-- nnt 2018-08-05

This is the news every laborer, street sweeper and mocy taxi driver has been waiting for. Onward and upward!

10 minutes ago, rooster59 said:

GSB president and CEO Chatchai Payuhanaveechai said this week that his bank has forecast that this year’s GDP growth will be between 4.6% and 4.9% which will be driven by high public spending ahead of next year’s general election. 

 

Despite his optimism, Chatchai warns that the United States’ economic measures for the remainder of this year could potentially hinder Thailand’s economic expansion. 

What an excellent spin-doctor statement!

Not only does it avoid the recently threatened punch-in-the-face penalty by being up-beat, it also future-proofs any comeback by blaming pesky foreigners in advance!

 

Raise interest rates NOW !

Edited August 5, 20187 yr by nobodysfriend

1 hour ago, nobodysfriend said:

Raise interest rates NOW !

Yes please