Thai Economy to Improve in 2016, Says Economist

BANGKOK, Nov 15 (TNA) - Although Thailand’s exports this year declined more than earlier projection, the country’s economy would remain at 2.9 per cent due to investment by the government and favourable tourism business in the last quarter of 2015, said Anusorn Thamjai, Vice Rector of Rangsit University. Mr. Anusorn, also Dean of Rangsit University’s Faculty of Economics, said Thailand’s economy in 2016 would sustain growth to between 3.2 – 4 per cent on assumption that global economy would improve from this year and grows between 3.4 – 3.6 per cent while world trade is projected to expand between 3.8 – 4.1 per cent, higher than this year which is forecast to grow between 3.1 – 3.2 per cent. There are positive signs that global economy in 2016 would help improve Thailand’s exports and tourism industry, he said, adding that the country’s economy in general is projected to be in high volatility due to uncertainty and non-economic factors which are difficult to forecast, said Mr. Anusorn. Global economy is expected to recover due chiefly to US economy which is projected to grow almost 3 per cent because of improvement in its labour and production sectors, said Mr. Anusorn. The US currency is expected to strengthen against the euro, Japanese yen and the Thai baht, he added.(TNA)