Finance Ministry maintains 2017 GDP projection at 3.5-3.6%

BANGKOK, Aug 4 (TNA) – Thai Finance Ministry maintained the country’s 2017 Gross Domestic Product (GDP) at 3.5-3.6 per cent, said Finance Minister Apisak Tantivorawong. According to an initial assessment, the flood situation in the Northeast is not likely to impact the Thai economic growth as the flood-hit areas are still limited in the northeastern region, the minister said. However, the ministry needs to monitor the situation whether the flooding prolongs and causes more extensive damages. Mr Apisak said the government is trying to push for sustainable economic growth. Since the administration took office, Thai GDP continuously grew from 0.8 per cent in 2014 to 2.8 per cent in 2015 and 3.2 per cent in 2016. In 2017, it is projected that Thai GDP will expand 3.5-3.6 per cent. The government is expediting investment in infrastructure projects, especially in transportation. The investment in basic infrastructure will help develop Thailand to be the hub of CLMV countries and enhance connectivity with neighbouring countries, he added. It will also cut logistic cost and stimulate the country’s economy. (TNA)