Analysts believe 2016 Thai economic growth can exceed 3%

BANGKOK, 19 May 2016 (NNT) - Analysts have remarked that the Thai economy this year could expand by more than 3% if a charter referendum runs smoothly.

In a seminar on the Thai economic situation in the 2nd quarter, executive of Kasikorn Bank (KBank) Korbsit Silapachai said the bank estimated that the Thai economy would grow by 3% and maintained its 2016 growth forecast of 3%. Higher growth rate could also be expected if a majority of voters voted yes for the charter draft, said Mr. Korbsit.

The banker however suggested that the country closely monitor the export sector which was expected to see no growth this year due to the global economic slowdown.

KBank has predicted that the baht currency will likely depreciate in the second quarter at around 35.50 baht against the US dollar following a possible benchmark rate increase by the Fed.

Independent academic Phraipol Khumsap said the first quarter’s 3.2% economic growth rate in Thailand was higher than expected partly due to low oil price. As for the rest of the year, higher oil price and the fragile global economy would make an average growth rate from now until the end of 2016 lower than the first quarter, said Mr. Phraipol.


-- NNT 2016-05-19

They also believe in ghosts, black magic, the power of amulets and the PM will hold an election in 2017.

Like China, they may well hit the mark and have the result declared within days of the financial period ending whereas most countries require 6-8 weeks or more to collate the actual data.

Like China, they may well hit the mark and have the result declared within days of the financial period ending whereas most countries require 6-8 weeks or more to collate the actual data.

The Minister of Tourism can be a consultant for that as she can announce holiday tourist and expenditure figures before the holiday has even ended.

An encouraging update from the Department of Fictitious and Fantastical Pronouncements.

An encouraging update from the Department of Fictitious and Fantastical Pronouncements.

Something us muggles just dont get.

Statistics will assuredly show that GDP will exceed 3% but what the number will be is anyone's guess. Whether the statistics reflect the true picture is another matter. The previous prediction was 2.8% which is pathetic compared to some neighbouring countries like Vietnam and Myanmar. Therefore the statistics need massaging to avoid international loss of face at times when the PM is strutting his stuff in foreign countries such as Russia.

NNBT is really churning 'em out today. Got a weekly spin quota and have to compensate for the holiday tomorrow?

Edited May 19, 201610 yr by DrTuner

Like China, they may well hit the mark and have the result declared within days of the financial period ending whereas most countries require 6-8 weeks or more to collate the actual data.

I think this information should come from international economists and my humble opinion of economists really negative at best. I read the western economist numbers and they always seem to end up with egg on their face. I will mark 3% on the December page of my calendar Lets say December 31. The GDP figures for the year should be out by then.

Please stop telling us what you THINK! Or, use "because" and give us real examples and facts to back up the claims. Boring

In a seminar Korbsit declares, Higher growth rate could also be expected if a majority of voters voted yes for the charter draft

Korbsit makes a judgement as to the consequence of voting yes on the draft.

Minister of Interior Gen. Anupong Paochinda has stated, "everyone had the right to criticize the charter draft in an academic manner. However, they cannot state whether other people should accept or not accept the draft."

I'm sure Korsbit will stand beside Suthep to face any legal action from the Election Commission if his public statement in support of the draft constitution is deemed a violation of the Referendum Act. I expect both will remain untouched.