Thursday, August 17, 2017 - 18:55:34

Thai economy may grow 5 percent next July

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Thailand ’s economic growth next July is likely to register a 4.5-5 percent increase thanks to its stable fundamentals, according to Bank of Thailand governor Prasarn Trairatworakul.

Growth rate for this year might be 1.5 percent but there is a possibility that the rate will increase to 2 percent if the economy is stimulated with the implementation of populist projects for the rest of the year, he said.
However, he noted that economic stimulation should not cause budgetary burden as it could be done through investment, speedy approval of investment projects by the Board of Investment and speedy budgetary spending.

Prasarn said that although household debts account for up to 83 percent of the GDP, it is not a matter of serious concern as they have declined since last year.

The central bank will keep a close watch on external factors such as whether the United States would decrease the QE (quantum efficiency) measure or not, which may affect liquidity problem in Thailand or cause capital outflow.-VNA
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