Chamber of Commerce predicts better Thai economy in last 2 quarters

BANGKOK, 22 June 2016 (NNT) - The Thai Chamber of Commerce has estimated that the Thai economy will likely expand from now on, following rising global oil price which has resulted in price increases of important agricultural products. The chamber of commerce also predicted that the Thai economy this year will grow by 3.2% - 3.5%.

Chairman of the Thai Chamber of Commerce Isara Vongkusolkij said the economy in the latter half of 2016 tended to improve due to the government’s stimulus measures and investment in infrastructure mega projects. The tourism sector still expanded continuously and the export sector showed signs of recovery, said the chairman.

Rising prices of important agricultural products, such as rice, Para rubber and oil palm, would help the Thai economy in the second half of 2016 reach a growth rate of around 3.3%, the chairman predicted. He however warned that Thailand should continue monitoring the prolonged drought, strict loan rules for SMEs as well as China’s tendency to decrease imports.

As for exports, the Thai Chamber of Commerce forecast that the 2016 Thai export growth will likely expand by 0.8% and the inflation rate will stand at 0.4%.


-- NNT 2016-06-22

It can't get much worse so a safe prediction I think

A sweeter future, predicted by the head of the Mitr Phol Sugar Corporation.

It was Mark Twain who once said: “It is difficult to make predictions, especially about the future”.

I suggest The Thai Chamber of Commerce is being courageous by making these predictions but I guess out of political necessity they have to say something positive. I hope for their sake they do not later have to eat a meal of humble pie.

In any case a 3.2 - 3.5% growth is nothing to be proud of when compared to neighbouring countries like Myanmar and Vietnam whose economies are going gangbusters with growth rates of 6.5 - 7.5%.

The chamber of commerce also predicted that the Thai economy this year will grow by 3.2% - 3.5%.

Thai export growth will likely expand by 0.8%

- Early January 2016 the CoC predicted exports to grow by 4%. A couple weeks later it lowered its prediction to 2%.

- April 2016 CoC expected economic growth to drop to only 2.7-2.9% this year.

- May 2016 CoC projected that the Thai economy will expand 3% this year while export growth would remain stagnant.

- A week later CoC expected Thai exports to continue to contract.

CoC might have more creditability if it replaced predict, expect and project with hopes.

Or find a more honest profession.

"what do you want to do today?"

"lets predict something."

"ok."