SCB:Thai economy is now likely to grow 4.3% in 2018

BANGKOK, July 9 (TNA) - Like other leading economic forecasting agencies, the Economic Intelligence Center (EIC), under Bangkok-based Siam Commercial Bank (SCB), has revised upward its projection of Thailand's economic growth this year to 4.3 per cent year-on-year, from its earlier forecast of about 4 per cent year-on-year. EIC First Executive Vice President Yanyong Thaicharoen told journalists of the upward revised figure on Monday, attributing the improving prospect of the Thai economy to the expanding domestic consumption, as well as private and public investment. Yanyong pointed out that the public investment alone is likely to expand by 11 per cent on average this year, while the country's exports and tourism are expected to grow by 8.5 per cent year-on-year and 8 per cent year-on-year, with the number of international tourist arrivals in Thailand expected to reach about 38.2 million totally. Yanyong said, however, that impacts from the ongoing trade war between the United States and major trading partners, including China and the European Union (EU), and capital outflows, as well as rising world oil prices remain risk factors against the growing Thai economy in 2018 and in 2019. (TNA)