Mega-projects remain major stimulus of Thai economy in 2018

BANGKOK, October 5 (TNA) - The Bangkok-based Kasikorn Research Center (KRC) says that the Thai government's mega-investment projects will remain a major driving force of the national economy next year. KRC made the assessment on Thursday, noting that private investment projects are also needed to boost Thailand's economic growth in 2018. The Thai private think-tank foresaw that the government's investment projects would be expedited in the second half of this year through the gradually-increasing disbursement of state budget plans. The leading private think-tank projected, however, that the Thai government's investment projects should now expand by 5 per cent year-on-year in 2017, a drop from its earlier forecast of 8.5 per cent year-on-year due to a shrink in public investment in the second quarter of this year. KRC also forecast that the Thai economy should now grow 3.7 per cent year-on-year on average in 2017, from its earlier projection of 3.4 per cent year-on-year on average, and could further expand by 4 per cent year-on-year on average in 2018 if cushioned by more private investment projects. Besides, the Bangkok-based research firm assessed that the Thai baht should slightly weaken to 33.50 baht a US dollar late this year and should stand around 33.80 baht a US dollar in 2018 due to signs of the stronger greenback and the rising key US interest rate. (TNA)