Thai economy expected to grow 4-5% next year

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BANGKOK, 21 December 2013 The Thai economy is expected to grow 4-5 percent next year in line with the global economic recovery. 

The Commerce Ministry has forecast that Thailand’s economy will be on an upward trend as the country could see up to a 4-5 percent economic growth next year, adding that an average inflation rate will be in the range of 2.5-2.6 percent. The anticipated inflation rate, according to Deputy Minister for Commerce Yanyong Phuangrach, will be better than this year’s figure, which stands at 2.3-2.4 percent.

The deputy minister also believes that people will be more confident in the country, while urging all responsible sides to help trigger the economy.

In a bid to help Thais reduce their living expenses, the Commerce Ministry has this year organized over 900 “Blue Flag” fairs throughout the nation, enabling consumers to save a combined amount of 1 billion baht.