Thailand's GDP likely to grow at least 3.5-4% in 2017

BANGKOK, December 20 (TNA) - The Thai Chamber of Commerce has projected that the country's gross domestic product (GDP) should expand by another 0.5 per cent next year, from a previous forecast of 3.5-4 per cent, thanks to the Thai government's stimulus measures. Thai Chamber of Commerce Vice Chairmand Vichai Assarasakorn made the projection on Tuesday, saying that the 2017 national economic growth rate forecast would be on top of this year's GDP growth rate of 3.3-3.5 per cent. Vichai assessed that major drives of the national economic growth next year should be the Thai government's economic stimulus and rising public spending consequently. Vichai also forecast that Thai exports should expand by 0-2 per cent next year, from a, probably, contraction of 1-0 per cent this year. The Thai Chamber of Commerce vice chair cautioned, however, that the country could be affected by global uncertainties, especially from changing policies of US President-elect Donald Trump and a recent increase of the key US interest rate, announced by the Federal Reserves (FED). Besides, an uncertain political direction in Europe and a slowdown in the immense Chinese economy should become another risk factors facing the Thai economy in the coming months. According to the Thai Chamber of Commerce vice chair, a recent Cabinet reshuffle should not have any serious impact on the national economy as there has been no change in key economic decision makers in the Thai government. (TNA)