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Thai GDP growth for 2016 over 3%

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GDP growth for 2016 over 3%

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BANGKOK: -- The Fiscal Policy Office forecasts improved economy this year with growth expected to be no less than 3%.

This was disclosed by Mr Kritsada Jinawicharana, the director-general of the Fiscal Policy Office.

He said that the Ministry of Finance will be adjusting its GDP projections so that they correlate with other government departments estimates most particularly with those from the Office of the National Economic and Social Development Board.

But in any event, he was able to confirm that this year’s GDP will grow by no less than 3% due to improved economic conditions in February which was driven by massive government spending on public projects.

This can be clearly seen by the 36.9% increase in capital investments by the state.

He said a further contributor is the rise in tourism which continues to enjoy a growth of 16%.

As a whole, Mr Kritsada stated that Thailand is currently seeing a dramatic increase in national spending especially from the private sector which will help drive the economy.

Source: http://englishnews.thaipbs.or.th/content/157686

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-- Thai PBS 2016-03-31

His crystal ball(s) are obviously larger than the other economists

massive government expenditure on infrastructure projects, the big boys get the contracts, brown envelopes pass hands.

somchai and somying mixing concrete 350 a day.

no different to australia, except, the deals are more subtle.

i would be interested to know the figures with the 'black' economy included.

The World Bank and IMF Forecast

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They were saying 3 to 3.5% in the forecast on 6th January….how is 3% an improvement?

" He said a further contributor is the rise in tourism which continues to enjoy a growth of 16%."

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" He said a further contributor is the rise in tourism which continues to enjoy a growth of 16%."

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If you have "better", independently verified figures, why not just provide those instead of posing silly Emoticons ?

" He said a further contributor is the rise in tourism which continues to enjoy a growth of 16%."

cheesy.gif cheesy.gif cheesy.gif

coffee1.gif

If you have "better", independently verified figures, why not just provide those instead of posing silly Emoticons ?

I would say Thai officials have flogged the arrivals numbers, but have been less communicative about foreign tourist revenue.

This is unsurprising, as it is well known that the "mix" has changed.

The Fiscal Policy Office forecasts improved economy this year with growth expected to be no less than 3%.

Down just a week ago from its projection of 3.7% !

What will another week bring? Another month?

Chairman of the Thai National Shippers’ Council Nopporn Thepsithar stated that the economy of Thailand’s primary markets show no signs of improving any time soon.

The Asian Development Bank says that a slowing Chinese economy and a sluggish recovery in Thailand’s major industrial economies are expected to slow down economic growth .

The World Bank is projecting 2%.

Last year's growth was 2.5-2.8%. Thailand will be lucky to match it for this year.

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