JSCCIB maintains growth forecast of Thailand at 3.5 to 4 percent this year

 

BANGKOK, 7 March 2017 (NNT) - The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has maintained its growth forecast for Thailand at 3.5 - 4 percent this year, due to improvements in the global economy. 

JSCCIB Chairman Chen Namchaisiri said economic headwinds include a forecast expansion in the country’s export sector by 1 - 3 percent, increased government spending, continued growth in the tourism sector, as well as improvements in the global economy. Meanwhile, potential impacts due to US economic and trade policies are not likely to affect Thailand this year. 

Mr Chen noted that the JSCCIB will pay close attention to the US Federal Reserve meeting on March 14th and 15th for its decision on whether to raise interest rates. The committee will also monitor the impacts of inflation and high household debt on consumer spending. Despite recovery in the agricultural sector, purchasing power among farmers are expected to remain low, should agricultural output underperform.

 

-- nnt 2017-03-07

19 hours ago, webfact said:

the JSCCIB will pay close attention to the US Federal Reserve meeting on March 14th and 15th for its decision on whether to raise interest rates.

With the HOT stock market gains and promises of higher employment, lower taxes and cheaper healthcare system by the Trump administration, a rate increase in March could be justified.