National economy to grow steadily: FPO

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Fiscal Policy Office Director Lawaron Saengsanit.
Fiscal Policy Office Director Lawaron Saengsanit.

Bangkok – Fiscal Policy Office (FPO) Director Lawaron Saengsanit has confirmed that the national economic situation reflects the growth of Gross Domestic Product.

However, analysis of the overall economic situation requires economic stability, which is reflected in other economic indicators such as inflation.

Since 1999, the national economy has been growing at an average rate of 4.1 percent per year reflecting an appropriate level of economic growth while the inflation rate was at an average of 2.0 per cent, which would not result in any increase in the prices of goods and services.

In 2017, the Thai economy grew by 3.9 percent and the National Economic and Social Development Board expected it to grow by 4.2 percent in 2018 (as of November 2018) which is consistent with the economic growth rate at a potential level (potential GDP) of about 4.0 percent.