K-Research to revise up GDP projection

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BANGKOK, 18 June 2014, – Kasikorn Research Center has said the National Council for Peace and Order (NCPO)’s economic stimulus plan will significantly improve the national Gross Domestic Product (GDP), as well as the performance in the credit market. 

According to Kasikorn Bank’s Deputy Managing Director Pakorn Pattanapat , the NCPO’s economic stimulus plan will attract more capital to the local market while restoring consumer confidence and stimulating spending. If it goes as planned, the plan could push Thailand’s GDP growth this year to 2%, up from 1.8% projected earlier.

Mr. Pakorn said the improvement would also strengthen the credit market, adding that the bank planned to issue about 700,000 new credit cards this year, bringing the total number of Kbank’s credit cards to 3.6 million, an increase of 16% year-on-year.