Sound prospect foreseen for Thai economy in 2nd half 2019

BANGKOK, February 1 (TNA) - The Thai economy is expected to grow in a more accelerating pace in the second half of this year when the country's newly-elected government takes office with new investment projects implemented by both the public and the private sectors. Assessing the national economic prospect this year, Dr. Pipat Luengnaruemitchai, Assistant Managing Director of Phatra Securities Public Company Limited, told journalists that his projection is based on the fact that the country's newly-elected government will successfully carry on the national administration and policies in the wake of the new general election, now clearly set on March 24, 2019. Dr. Pipat said that the new Thai administration's fiscal measures are also expected to help ease negative impacts on the national economy in the second half of this year from external risk factors, including the ongoing trade war between the United States and China and a slowdown in the world economy, which could affect Thailand's exports and tourism sector. Dr. Pipat forecast, however, that Thailand's gross domestic product (GDP) should grow by 3.7 per cent year-on-year in 2019 due to a slowdown during the first half of this year, caused by the wait-and-see mode of consumers and business operators until the newly-elected government successfully takes office in late May or in June. (TNA)