Industry minister confident Thai economy to expand at 3% this year


BANGKOK, 15 June 2015 – Minister of Industry Chakkamon Phasukwanit has expressed his confidence that the Thai economic growth rate this year will reach 3% and the export sector in the second half of the year will rebound to positive growth.

The minister on Monday said the Thai economy depended on consumption, production and the government’s spending on infrastructure mega projects. The projects would help increase confidence of the public and investors in the long run, said the minister.

The Thai GDP in the first quarter this year expanded by 3% and exports grew at -4%. If the export sector has positive growth in the third and fourth quarters, the annual average growth rate may equal last year’s at 0%.

As for agricultural products, the minister said the price of Para rubber increased to over 60 baht/kilogram and rice had a tendency to be sold at higher prices.