Thailand’s economy expected to grow 3.5 pct after Q2

Bangkok city (Source:bangkok.com)

Bangkok (VNA) – Thailand’s Trade and Commerce Centre (TCC) on June 22 forecasted that the country’s economy would bounce back after the second quarter of 2016 and enjoy a growth from 3.2-3.5 percent.

Chairman of the TCC Isara Vongkusolkij said that the country’s economy in the latter half of this year is seeing an upward trend while tourism sector will continue to surge and export has shown signs of good recovery.

He foresaw that increase in prices of key agricultural products such as rice, rubber and palm oil will shore up the country’s economy.

The TCC also anticipated that export might climb 0.8 percent while inflation will be around 0.4 percent this year.

Meanwhile, the Tourism Authority of Thailand (TAT) estimated that the kingdom welcomed about 16.67 million foreign visitors in the first six months of this year, a year-on-year increase of 13 percent. The country has earned about 824 billion THB (23.4 billion USD) from tourism revenue, up 17 percent compared to the same period last year.

After the country dropped three spots from 46 th to 49th on the World Bank (WB)’s latest annual evaluation on investment climate, Prime Minister Prayut Chan-ocha has promptly instructed relevant authorities to improve business and investment opportunities, especially for foreign enterprises operating in the country.-VNA