Thai economy grows strongest in over four years

Thailand’s gross domestic product (GDP) increased 3.7 percent year-on-year in the second quarter of 2017, reported the National Economic and Social Development Board.

Thursday, August 24, 2017 14:38

Thai economy grows strongest in over four years ảnh 1

Illustrative image (Source: Money International)

Bangkok (VNA) – Thailand’s gross domestic product (GDP) increased 3.7 percentyear-on-year in the second quarter of 2017, reported the National Economic andSocial Development Board.

Thiswas the fastest growth of the Southeast Asian nation in the past four years. Thecountry’s GDP grew 3.3 percent in Q1.

Economicoutlook of Thailand this year has improved as export is forecast to go up morethan 4 percent. Thailand’s unstable politics made investors in the privatesector hesitate while consumer spending stood at a moderate level, according toanalysts.

However, analysts warned of risks as Thailand is struggling to restrict the riseof the Thai baht. The currency has increased 7.9 percent compared to the USdollar, lowering competitiveness of Thai export products.

The Bank of Thailand has left its benchmark interest rate unchanged at 1.5percent in more than two years while the country grapples with high consumerdebt.-VNA

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#Thailand #GDP #Q2 2017 #economic outlook #export #Thai baht #benchmark interest rate #consumer debt #consumer spending #vietnamplus #Vietnam News Agency Thailand

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