Thai economy forecast to pick up through 2nd half of 2014

[webfact]

Thai economy forecast to pick up through 2nd half of 2014
By Digital Content



BANGKOK, July 9 -- Kasikornbank (KBank) expects Thailand's economic recovery in the second half of 2014 and predicts the Thai gross domestic product (GDP) will grow by 2.3 per cent throughout the year.

KBank executive vice president Vasin Vanichvoranun said the Thai economy was likely to pick up significantly in the second half of this year because government budgets from the 2014 and 2015 fiscal years would be quickly disbursed.

Promotional privileges from the Board of Investment (BOI) will also be approved in the near future for investment projects worth Bt700 billion, and Bt92 billion has been paid for farmers' pledged rice, he added.

The factors should allow the Thai GDP to grow by 4.3 per cent in the second half of this year and raise the GDP growth rate for the whole 2014 from 1.8 per cent to 2.3 per cent.

Other factors to support economic growth are the public's consumption and exports.

Mr Vasin commented that government spending would directly benefit the construction and property sectors, and said that household spending spurred by the pledged rice payment would boost the growth of retail and consumer product businesses.

He predicted that the value of Thai exports would increase by 3 per cent this year compared with its 0.2 per cent recession last year.

The automotive industry and investment projects worth Bt400 billion waiting for promotional privileges from the BoI could significantly boost the Thai economy in the second half of this year, Mr Vasin said. (MCOT online news)


-- TNA 2014-07-09

[Hawk]

Really? So many forecasts but I forecast rain.

[bigbamboo]

Let's hope that now the politicians have gone the country can get on with running itself.

[firestar]

Let's hope that now the politicians have gone the country can get on with running itself.

Hmmm.. politicians are all gone? who do you think in Thailand qualifies as a top politician and where do they all come from?

As a reminder Thanksin is a product of the Armed Forces Academies Prep School, class 10. General Prayuth Chan-ocha class 12, Prawit class 6, etc.

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Edited July 9, 2014 by firestar

[shirtless]

I am unsure as how they come to this conclusion.

[givenall]

I believe it when I see it

[northernjohn]

Let's hope that now the politicians have gone the country can get on with running itself.

Hmmm.. politicians are all gone? who do you think in Thailand qualifies as a top politician and where do they all come from?

As a reminder Thanksin is a product of the Armed Forces Academies Prep School, class 10. General Prayuth Chan-ocha class 12, Prawit class 6, etc.

____________________

Well you got two out of thousands.

Please continue with your list. We are all waiting. Where did they get Yingluck?

[Kent1]

Is he talking about 2014 or 2041

[englishoak]

We shall see, btw he hasnt been paying attn ? 2.3% isnt enough the general said 3.

[whiteman]

we are already into the 2nd quarter and still not growing maybe when it rains then the country will suddenly wake up and produce amazing Thailand

[rickirs]

Differing bank perspectives?

"Speaking on his weekly Return Happiness to the People TV show yesterday, Gen Prayuth said the Bank of Thailand has estimated that the country’s economy will grow by only 1.5% this year." Bangkok Post, July 5, 2014