KBank: This year’s economic growth to reach 2.3%


BANGKOK, 10 July 2014- Kasikorn Bank (KBank) has predicted that government and public spending as well as private investment will push the nation’s GDP to grow by 4.3% and the economy to expand by 2.3% in the second half of 2014.’ 

KBank Executive Vice President, Vasin Vanichvoranun, said the key factors contributing to the projection included the government’s decision to wrap up the 2014’s budget disbursement while issuing the next fiscal year’s budget plan in time to be implemented on October 1st, the Board of Investment’s approval of 700 billion baht investment projects, and the recently concluded 92 billion baht rice pledging scheme payment.

According to Mr. Vasin, those factors would contribute to pushing this year’s GDP to increase from 1.8% to 2.3%, adding that the export sector’s growth could be as high as 3%, a tremendous jump from last year’s negative growth of 0.2%.