Thailand optimistic about private investment hinh anh 1Illustrative image (Photo: bangkokpost)
Hanoi (VNA) – Private investment in Thailand was forecast to grow 4.6 percent in 2020, up from 2.7 percent predicted for 2019.

According to the Thai Ministry of Finance, investment in the government's flagship Eastern Economic Corridor project, an increase in exports and 2020 fiscal budget disbursement set to kick off in February will all promote  private investment.

Experts from the ministry forecasts the country’s economy to expand by 2.8 percent this year and 3.3 percent in 2020. Meanwhile, the Bank of Thailand predicts 2.5 percent in 2019 and 2.8 percent in 2020.

According to Wuttipong Jittungsakul, Deputy Director-General of the Fiscal Policy Office (FPO), exports are expected to be the main engine driving the economy to meet the office’s forecast of 3.3 percent next year.

However, international trade should fare better in 2020 if trade tension eases between the US and China.

The FPO predicts Thailand's outbound shipments to reverse course and record growth of 2.6 percent in 2020 after a likely contraction of 2.5 percent this year. /.