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Thailand's economy to grow 3.2% to 3.5% this year: deputy PM

Monday, October 10, 2016 - 15:43
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Thailand's economy is expected to grow 3.2 per cent to 3.5 per cent this year, largely fuelled by increased foreign investment and record-high tourism, a deputy prime minister said on Monday.

[BANGKOK] Thailand's economy is expected to grow 3.2 per cent to 3.5 per cent this year, largely fuelled by increased foreign investment and record-high tourism, a deputy prime minister said on Monday.

"The economy is now moving forward from increasing foreign direct investment and a record high number of tourists," Deputy Prime Minister Somkid Jatusripitak told reporters.

The forecast is in line with that of the Thai central bank, which recently raised its 2016 economic forecast growth to 3.2 per cent from 3.1 per cent.

Thailand has forecast a record 33 million visitors this year, driven mostly by an increase in Chinese tourists.

The Thai economy expanded 2.8 per cent last year.

REUTERS