Commerce Ministry projects economy to grow 3-4%

BANGKOK, Feb 13 (TNA) -- Buoyed by several positive factors, the Commerce Ministry projects that Thailand’s economy would sustain growth between 3-4 per cent in 2017, said Commerce Minister Apiradi Tantraporn. The projected growth is attributed to government investment on several mega projects totaling approximately 1 trillion baht, exports to grow around 2.5-3.5 per cent on global economic recovery, the softening of Thai baht and an increase in oil price which would increase prices of Thai agricultural products, said Ms Apiradi. Other positive factors are national inflation which is expected to rise between 1.5-2 per cent during the calendar 2017 due mainly to projected increase in oil price, she said. Tourism industry is projected to grow 2.8 per cent from last year, bringing in revenue estimated at 1.83 trillion baht, up 12.5 per cent, said Ms Apiradi. However, negative factors which need to be monitored include trade policy in several countries which could change, a hike in US Fed rates, a change in global oil price, and an uncertainty in economic policy in Europe and the US which would affect several countries, she added. (TNA)