Thai Chamber of Commerce says local economy will grow 3.5 percent

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BANGKOK, 25 May 2015, The Thai Chamber of Commerce is confident that the overall economy in Thailand will grow by 3.5 percent, with the help of the government’s accelerated budget disbursement.

According to President of the Thai Chamber of Commerce, Issara Wongkusonkij, the private sector has shown more confidence in Thailand’s economy. He predicted that the local economy would grow by 3.5 percent, as the situation would likely be better during the latter half of the year. He is confident that the economy will be stimulated once the government budget disbursement is completed.

In addition, the TCC’s members in all the 5 regions of Thailand have reported that the situation has improved in terms of investment and industrial expansion as well as value- added-tax collection, Issara said, adding that the tourism industry reportedly grew by leaps and bounds– between 23-24 percent– in the first quarter.