GSB projects Thailand’s economy would grow 3.5%

BANGKOK, Aug 5 (TNA) -- The state-run Government Savings Bank (GSB) has projected that Thailand’s economy would grow 3.5 per cent in 2017 despite several negative factors. GSB president Chatchai Payuhanaveechai said his bank’s economic centre has projected that Thailand’s economy would accelerate during the second half this year on positive factors including rising exports, public consumption, tourism and easing government’s monetary policy. Government spending on basic infrastructures, however, remains the key factor in driving the country’s economy plus increasing exports, said Mr Chatchai. It is expected that cash given by the government to the poor would help in public spending during the end of the year, he said. Negative factors including skyrocketing household debt, an investment by the private sector, a political situation in the country and volatility in the money market may impact Thailand’s exports, Mr Chatchai added. (TNA)