BoT says Thailand’s GDP will grow over 3.2% in 2017

BANGKOK, Dec 24 (TNA) -- Thailand’s gross domestic product (GDP) is projected to grow over 3.2 per cent in 2017 on the back of improving US economy and the Thai government’s plans to invest heavily on significant basic infrastructure projects, said Bank of Thailand (BoT) governor Veerathai Santiprabhob. The country’s economy could expand over 3.2 per cent next year as projected by BoT’s Monetary Policy Committee earlier and could grow between 4-5 per cent within the next 1-2 years as targeted by the government, said Mr Veerathai. Positive factors which could help the Thai economy include signs of the US economy that could recover as mapped out by the US president-elect Donald Trump and it would benefit Thailand, he said. On the Bangkok government’s plans to invest important basic infrastructure projects, Mr Veerathai said Thailand’s GDP would rise if the projects are implemented sooner than the schedule. Also, if commodity prices rise in 2017, they could help push the GDP to increase over 3.2 per cent, he said. However, risks persisted, according to Mr Veerathai, US trade protectionist measures, if continue, would affect Thailand’s exports and Washington’s trading partners. Several major countries will organise general elections in 2017 and they could sway a decision of businessmen to invest, he added. (TNA)