Banker forecasts 3% economic growth rate this year


BANGKOK – The private sector has forecast the tendency of the Thai economy in the second half of year, saying internal factors are conducive to private investment. External factors will keep interest rates to stay low for a long time.


Head of Global Markets at Bank of Ayudhya Tak Bunnag said public investment and the government’s stimulus measures for SMEs and the real estate sector would still play an important role in the Thai economy in the last two quarters. Low oil price and interest rates would benefit the private investment and the tourism sector would keep on expanding, said the executive.

Mr. Tak however warned about the sluggish export sector and high household debt.

The baht would likely appreciate and stand around 35.50 baht to the U.S. dollar following the possibility that the Fed may not increase the benchmark rate this year.

The banker also forecast that the Thai economy this year would expand at 3%.