DPM Somkid content with 4.8% GDP growth in first quarter

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Deputy Prime Minister Somkid Jatusripitak says the 4.8% GDP growth in the first three months of 2018 reflects an overall economic improvement.
Deputy Prime Minister Somkid Jatusripitak says the 4.8% GDP growth in the first three months of 2018 reflects an overall economic improvement.

Deputy Prime Minister Somkid Jatusripitak says the 4.8% GDP growth in the first three months of 2018 reflects an overall economic improvement.

Expressing his satisfaction with the expansion of the country’s gross domestic product (GDP) in the first quarter, the deputy premier in charge of economic affairs said the 4.8% increase was the highest in 5 years.

Many sectors including private spending, government spending, agriculture, export, and tourism performed well during the period, said Somkid, noting that these positive signs reflected the country’s overall economic recovery.

Private investments surged for the 4th consecutive quarter in the first three months, which demonstrated the trust and confidence the country has regained among investors.

The 4.8% GDP growth was revealed by the National Economic and Social Development Board (NESDB) earlier last week, prompting the agency to revise this year’s economic growth forecast from 4.1% to 4.5%.