Thailand's official GDP growth forecast maintained at 3.6% in 2017

BANGKOK, April 27 (TNA) - The Thai Ministry of Finance has maintained its forecast of the country's gross domestic product (GDP) growth in 2017 at 3.6 per cent year-on-year on average, thanks mainly to expanding Thai exports. Ministry of Finance Spokesman Kritsada Jinavijarana, who is also Director-General of the ministry's Fiscal Policy Office (FPO), told journalists on Thursday that the officially-projected 3.6 per cent GDP growth this year is higher than last year's 3.2 per cent year-on-year GDP growth. The spokesman stated that Thai exports in the first quarter of this year expanded by 4.9 per cent year-on-year, cushioned by the growing economies of Thailand's trading partners, the Thai government's investment on small-scaled projects, worth almost 200 billion baht totally, and on mega-projects for urban rail tracks, dual-rail tracks, motorways and new airport development plans. The spokesman noted that Thailand's 15 major trading partners now enjoy their GDP growth rates of 3.51 per cent on average, while Thai interest rates remain low, together with the weakening Thai baht at 35.5 baht against the US dollar currently and a low level of the Dubai crude oil at 60 US dollars per barrel, all of which have spurred the Thai economic growth. Besides, rising sales of sedans and income of Thai farmers, boosted by higher prices of local farm products, as well as the increasing overall consumer confidence index (CCI) over the past four consecutive months, standing at 65.1 last month, its highest level in 15 months, have also stimulated the national economic growth. According to the spokesman, Thailand's private investment in the first quarter of this year also expanded, reflected by more imports of machines and rising prices of construction materials. (TNA)