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World Bank raises Thailand’s 2018 growth forecast

Thailand's economy is expected to grow 4.1 percent this year, up from 3.6 percent predicted last August, as the recovery is broadening, the World Bank said on April 9.
World Bank raises Thailand’s 2018 growth forecast ảnh 1The World Bank raises Thailand's growth forecast this year due to economic recovery and rising exports. (Source: Bangkok Post)

Bangkok (VNA) - Thailand's economy is expected to grow 4.1 percentthis year, up from 3.6 percent predicted last August, as the recovery isbroadening, the World Bank said on April 9.

Whilerapid export growth continues to fuelling the economy, an increase in capacityutilisation and acceleration in capital goods imports suggest a nascentdomestic demand recovery, the World Bank said in a statement.

"Witheconomic growth exceeding 4 percent this year, for the first time since 2012,Thailand has the potential, with intensifying structural reforms, to raiseproductivity and grow even faster over the medium term," Ulrich Zachau,World Bank director for Thailand, Malaysia and Regional Partnerships, said inthe statement.

Thailand's exports are expected to rise 6 percent this year, but a trade warbetween the US and China is a risk, according to World Bank economist KiatipongAriyapruchya.

Lastmonth, the Bank of Thailand (BoT) raised its 2018 economic growth forecast to4.1 percent from 3.9 percent. -VNA
VNA
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