FPO estimates 2017 economic growth at 3.6%

 

 

BANGKOK, 31 January 2017 (NNT) – The Fiscal Policy Office (FPO) has forecast steady expansion in the Thai economy, thanks to higher confidence among consumers and industrial operators. 

FPO Director-General Krisada Chinavicharana reported that the Thai economy in December 2016 performed better overall as it received a boost from the 6.2 percent export growth, an increase of 29.7 percent in public investment and higher agricultural production and prices. 

Furthermore, the government’s economic stimulus measures effectively propped up the consumer and industrial confidence indexes. As a result, Mr Krisada expressed belief that the average growth of the 2016 economy will reach 3.2 percent year-on-year, edging up from 2.8 percent in 2015. 

As for 2017, the FPO Director-General said the growth rate will likely increase to 3.6 percent or settle in the range of 3.1-4.1 percent. Notable supporting factors are uninterrupted increases in public spending, farmers’ income and private consumption. Recovery in the economies of trade partners will also benefit exports and tourism.

 

-- nnt 2017-01-31

 

13 hours ago, webfact said:

said the growth rate will likely increase to 3.6 percent or settle in the range of 3.1-4.1 percent.

Or maybe it will be in the range of 2.8%-5% or 3%-8%, whatever pleases public consumption for great news.

If only the military pay raises, buying aircraft, submarines, ships and tanks could count twards GDP growth, 3.6% might be very low.

 

The years journey down the slippery slope of reduced projections begins.  Next bid anyone?