Finance Min forecasts 4.2% economic growth this year


Bangkok – The Thai economy over the past two months has continued to grow on the back of higher consumer confidence and industrial output, as well as the government’s secondary welfare programs.

The government has continued to operate a budget deficit in order to stimulate the economy. The Ministry of Finance has forecast 4.2 percent growth in Thailand’s gross domestic product this year.

The Fiscal Policy Office said the economy in January continued to benefit from the robust export sector last year. Exports in 2017 grew for 11 straight months to a 62-month high of 17.6 percent. Value-added tax revenue rose 6.9 percent last year, indicating continuous growth in private consumption. Higher private consumption and continuous government infrastructure spending have pushed up the industrial confidence index for a third straight month to a 36-month high.