JSCCIB:Thai economy is likely to grow by 4% in 2018

BANGKOK, June 6 (TNA) - The Thai private sector has forecast that the national economy should now grow by at least 4 per cent year-on-year in 2018, thanks to many positive factors. Predee Daochai, Chairman of the Thai Bankers' Association (TBA), told journalists of the updated figure, following the June 5 meeting in Bangkok of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), comprising of TBA, the Board of Trade of Thailand (BTT) and the Federation of Thai Industries (FTI). The TBA chief said the JSCCIB's updated forecast of Thailand's economic growth this year was based on the fact that the national economy expanded by up to 4.8 per cent year-on-year in the first quarter of this year. The TBA chief explained that the growing national economy has been stimulated by such positive factors as expanding Thai exports, as well as domestic tourism, consumption and investment. However, the TBA chief acknowledged the latest JSCCIB meeting agreed that Thailand's economic growth during the remaining period of this year should slow down, after a fast growing in the first quarter, but the country's gross domestic product (GDP) growth should stand at least 4 per cent year-on-year on average in 2018. (TNA)