Thailand's exports, economy likely to grow by 4.5%, 4% in 2018

BANGKOK, March 30 (TNA) - The Kasikorn Research Center (KRC) has initially projected that Thailand's exports and economy should further expand by 4.5 per cent and 4 per cent year-on-year in 2018. A KRC top researcher, Natthaporn Triratsirikul, told journalists of the preliminary forecast on March 29, acknowledging if feared impacts from the United States' new trade protectionist policy were excluded, Thai exports could further grow by up to 7 per cent year-on-year in 2018. Natthaporn stressed that KRC has maintained its forecast of Thailand's export and gross domestic product (GDP) growth in 2018 at 4.5 per cent and 4 per cent year-on-year, but KRC would revise upward its projection of the country's export and GDP growth in 2018 during the second quarter of this year if there were no serious impacts found from the US new protectionist policy, particularly on exports of Thailand-made washing machines and solar cells, as well as steel and aluminum, the revised figures of which, if any, should be close to those forecast by the Bank of Thailand (BOT) and the Thai Ministry of Finance. According to the KRC top researcher, the Thai central bank should keep its key interest rate intact at 1.50 per cent at the next meeting of its Monetary Policy Committee (MPC). The KRC top researcher said, however, that more risk factors against Thailand's export and GDP growth this year need to be monitored, including the strong and unstable Thai baht, estimating that the Thai currency might appreciate to 31.20 bath a US dollar, which could particularly affect Thai exports of natural rubber, fresh seafood, plastic pellets and steel, as well as electric and electronic products. (TNA)