Thailand: Fiscal Policy Office expects 4 percent GDP growth for 2017
Source: Vietnam News Agency(VAN) Time:2017-12-01 11:52:05
The Fiscal Policy Office under the Ministry of Finance has revealed that Thailand's economy may expand by up to 4 percent this year, due to continuous economic recovery.
A Toyota factory in Thailand (Phoot: AFP)
Factors contributing to the positive outlook include a 3.8 percent increase in national GDP over the first three quarters of 2017, an increase in private sector spending, the acceleration of government investment programs, and strong performances in the export and tourism sectors. The number of tourist arrivals last month registered the highest growth rate in 26 months.
[Thailand’s economy forecast to grow 3.9 percent in 2017]
Deputy Prime Minister Somkid Jatusripitak said that in fiscal year 2018, the government plans on moving forward with multiple large-scale projects, including 13 dual-track railway contracts.
To stimulate the grassroots economies, Dr. Somkid said the Cabinet will push for clear economic policies, while the Ministries of Finance and Interior have been tasked with ensuring that local budgets support government policies.