World Bank increases 2016 Thai GDP estimate to 2.5%

BANGKOK, 29 June 2016 (NNT) - The World Bank has a positive outlook for the Thai economy by increasing this year’s Thai GDP estimate to 2.5% from 2.2%

World Bank Country Director for South East Asia Ulrich Zachau on Tuesday announced the results of an analysis of the Thai economy this year, saying the Thai economy would likely expand by 2.5%, lower than last year by 0.3%, due to global economic and export slowdowns. The 2016 Thai Thai export growth would be -1.4%, he said.

Foreign investment will still be low due to decreasing external demand as well as the country's political uncertainty. People in rural areas will still be affected by agricultural price drop.

The director however expressed his belief that the Thai economy would be able to withstand volatility since its economic foundation and the tourism sector were strong.

Mr. Zachau also warned that there were still challenges in terms of the Thai economic structure and a decreasing number of working population. He therefore suggested that Thailand urgently develop skills of its working population and launch policy to take care of the elderly in the long run.


-- NNT 2016-06-29

By way of regional comparison, China 6.6, Vietman 6.5, Malaysia 4.3, Cambodia 6.9, Myanmar 8.4..... Just sayin!

the Thai economy would likely expand by 2.5%, lower than last year by 0.3%

Thereby neutralizing the billions of borrowed baht spent as an economic stimulus. If tourism begins to collapse in the second half of 2016 in terms of revenue, the GDP might contract a further 0.3%.

The World Bank has a positive outlook for the Thai economy by increasing this year’s Thai GDP estimate to 2.5% from 2.2%

Gotta love the NNT. A "positive outlook" is a GDP projection below last year, and an export contraction.

I would hate to see the "negatives".