ADB predicts 3.5% Thai growth
View based on higher exports, consumption
- 21 Apr 2017 at 07:43
- WRITER: PAWEE SIRIMAI
Cargo containers sit in stacks at Laem Chabang port in Chon Buri province. Exports are projected to drive growth this year. APICHART JINAKUL
The Thai economy is expected to expand by 3.5% based on an export recovery and domestic public spending this year, with momentum set to continue next year, raising growth to 3.6%, says the Asian Development Bank (ADB).
"A sustained recovery in major economies, robust domestic consumption and the continued implementation of large public infrastructure projects are the key reasons for our projection," said Luxmon Attapich, ADB's senior country economist.
The ADB expects Thai merchandise exports to grow 2% this year and 4% in 2018, supported by a stronger global economic recovery and rising commodity prices.