Thailand's GDP likely to grow by 3-4% in 2017

BANGKOK, February 20 (TNA) - The National Economic and Social Development Board (NESDB) has maintained its projection that Thailand's gross domestic product (GDP) in 2017 should grow by 3-4 per cent year-on-year, boosted mainly by the government's investment in mega-infrastructure projects. NESDB Secretary-General Poramethi Wimonsiri told journalists on Monday that the Thai government's investment this year is expected to expand up to by 14.1 per cent year-on-year, becoming the main drive of the country's GDP growth in 2017. Poramethi noted that the Thai government's five mega-projects, totally worth 54 billion baht, are expected to be kicked off in the first half of this year, after four other ones, totally worth over 45 billion baht, have already been implemented and 11 other ones, totally worth over 532.65 billion baht, are in their bidding processes. The NESDB chief also reported that Thailand's GDP expanded by 3.2 per cent year-on-year last year, also boosted mainly by the Thai government's investment, which expanded by 9.9 per cent year-on-year, amid a slowdown in the private investment. Meanwhile, Thai Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, expressed his satisfaction with the national economic growth rate at 3.2 per cent in 2016, saying that he expects the Thai economy should grow by 3.5-4 per cent in 2017, propeled by both the public and private investment. (TNA)