DPM:More capital inflows show confidence in Thai economy

BANGKOK, August 31 (TNA) - Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, says that rising capital inflows have reflected more confidence in the Thai economy among international investors. Somkid made the remarks on August 30, pointing out the stock exchange of Thailand (SET) index has been on the rise lately. Somkid explained Thailand's new mega-investment projects and recovering major sectors, including exports and private investment, that have raised the national economic growth figure have also boosted confidence of foreign investors who have first poured their funds on the Thai stock market and are expected to later invest in real industrial sectors in the Thai economy. Meanwhile, Krisada Chinavicharana, Director-General of the Fiscal Policy Office (FPO), under the Ministry of Finance, confirmed that there were more positive signs in private investment, the local farm produce index and the domestic tourism in July 2017. Krisada told journalists that the Thai tourism alone grew by 4.8 per cent in July, earning the country over 156 billion baht, and about 63 per cent of the government's total investment budget for the 2017 fiscal year, amounting to over 313.31 billion baht, has already been disbursed. According to the FPO chief, his office will release its new forecast of Thailand's economic growth on average this year in October, with anticipated higher figure than 3.6 per cent year-on-year from the previous forecast, after the Ministry of Commerce has adjusted upward the country's export growth target in 2017 to 6 per cent year-on-year. (TNA)