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Thai finance ministry keeps 2017 GDP growth outlook, raises export forecast

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Thailand's economy is still expected to grow 3.6 per cent this year, although exports are likely to perform better than earlier forecast, the finance ministry said on Thursday.

[BANGKOK] Thailand's economy is still expected to grow 3.6 per cent this year, although exports are likely to perform better than earlier forecast, the finance ministry said on Thursday.

The ministry now expects exports to increase 3.3 per cent, up from 2.5 per cent seen three months ago, Krisada Chinavicharana, head of the ministry's fiscal policy office, told reporters.

The economy will be driven by government spending and improved exports, he said, adding first-quarter economic growth was estimated at more than 3.1 per cent from a year earlier.

The military government has ramped up spending and investment in a bid to boost growth in South-east Asia's second-largest economy, which has lagged regional peers.

Last month the central bank raised its 2017 economic growth forecast to 3.4 per cent from 3.2 per cent, with exports up 2.2 per cent, rather than no growth seen previously.

In 2016, the economy expanded 3.2 per cent.

REUTERS

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