Q1 economic growth rate makes record high

[webfact]

Q1 economic growth rate makes record high

BANGKOK, 17 May 2016 (NNT) - The government's economic stimulus measures and the continuously expanding tourism sector result in the first quarter's highest economic growth rate in three years, according to the National Economic and Social Development Board (NESDB).

NESDB Secretary-General Poramethi Wimonsiri said the Thai economy in the first quarter this year expanded by 3.2%, increasing from 2.8% in the fourth quarter last year. This three-year record growth was the result of spending and investment by the government, household spending as well as growing tourism.

Despite a 1.4% decrease in export growth, the country's current account was still in surplus by more than 580 billion baht or 16.6% of the GDP, said Mr. Poramethi.

The NESDB has forecast that the 2016 Thai economy will expand by 3.3%, mainly due to the government's spending and investment, past stimulus measures, low oil price and the improving agriculture sector in the latter half of 2016.

The secretary-general also warned against the global economy, decreasing global produce price, currency volatility and financial institutions' strict loan rules.


-- NNT 2016-05-17

[HiSoLowSoNoSo]

Only good times ahead says Thai Government!​ And now we all clap our hands and sing: Don't worry be happy...

[leeneeds]

The world bank considers for Thailand a 2.5 rate for 2016,

and 2.6 % for 2017,

debatable on how you spin the numbers up and down

always better to be the optimist and release a higher

projected number to help with the Thai ness and be happy.

[NongKhaiKid]

Does this record high mean that the 78% drop in foreign investment for 2015 as reported yesterday by the BBC has been recovered ?

I'm sure the official reply would be recovered and more. Investors like tourists are simply flocking here.

Edited May 16, 2016 by NongKhaiKid

[chainarong]

Only two weeks back the Treasury department announced a deficit , in other words Thailand is in the red , now we have a figure of 3.3% in increased growth , a figure that most countries around the world would envy, so if Thailand is broke and had an increased growth rate in the first quarter ( they managed to gather all this info in 17 days ), what does that tell you , they are dead right , Amazing Thailand..................................................... .

[Tatsujin]

You couldn't make this up. Except they do. Constantly. And people believe them.

[Jimbo2014]

Torture the statistics long enough and they will tell you anything

[NongKhaiKid]

Only two weeks back the Treasury department announced a deficit , in other words Thailand is in the red , now we have a figure of 3.3% in increased growth , a figure that most countries around the world would envy, so if Thailand is broke and had an increased growth rate in the first quarter ( they managed to gather all this info in 17 days ), what does that tell you , they are dead right , Amazing Thailand..................................................... .

Very much in the mold of the Tourism Minister who can announce all the income generated over a holiday period before the holidays are over.

[retarius]

This 3.2% is an annualised rate. It doesn't say this in the article which is misleading. The increase is 0.8% X 4 quarters gives 3.2%. Aneamic growth coming out of a recession.

[IamNoone88]

Welcome to Dreamland.

[ilostmypassword]

Only two weeks back the Treasury department announced a deficit , in other words Thailand is in the red , now we have a figure of 3.3% in increased growth , a figure that most countries around the world would envy, so if Thailand is broke and had an increased growth rate in the first quarter ( they managed to gather all this info in 17 days ), what does that tell you , they are dead right , Amazing Thailand..................................................... .

It tells me that you don't have a clue about the relationship between deificits and the economy.

[Issangeorge]

In the part of Isaan I live, the stores are full, and the traffic is jammed. My father always told me that that meant the economy was doing well. However I can't see where all the money is coming from for people to spend. The only true economic activity I see is the building of shop houses, which then stay vacant upon completion.