NESDB:Thai economy has kept growing

BANGKOK, November 21 (TNA) - The Office of the National Economic and Social Development Board (NESDB) says that the Thai economy has been expanding since early this year, with the country's gross domestic product (GDP) projected to grow by 3.2 per cent year-on-year on average this year and 3.4 per cent year-on-year next year. Speaking to journalists on the national economic growth trend in Bangkok on Monday, NESDB Secretary-General Porametee Vimolsiri pointed out that the positive prospect of the national economy is boosted by expanding Thai exports, as well as private consumption and investment, particularly by the government. Porametee stressed that Thailand's GDP should grow by 3.2 per cent year-on-year on average in 2016, the same figure in the third quarter, from 2.8 per cent year-on-year in 2015, following the country's expanding GDP by 3.3 per cent in the first nine months of this year, stimulated by household spending, goods and service exports and the government’s investment. The NESDB chief predicted that Thailand's GDP should keep expanding by 3.0-4.0 per cent year-on-year in 2017, thanks to growing exports and domestic tourism, as well as the government's investment, while the inflation rate is expected around 1.0-2.0 per cent. The NESDB chief cautioned, however, that remaining risk factors for the Thai economy include US policies under the new administration as of early next year and impacts from Britain's departure from the European Union (EU), known as Brexit. The chief of the government's think tank, thus, proposed that the Thai government ensure efficiency in state budget disbursements to maintain public spending, especially in investment, to become a major drive of national economic growth, while also upholding growing domestic tourism and revenues and exports through, among others, exploring new markets for more Thai shipments overseas. (TNA)