TDRI forecast 2.8% growth this year

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Thailand Development Research Institute (TDRI) forecast the country's economic growth this year at 2.8%.

TDRI director Ms Kirida Phaophichit attributed the growth figure to government investments in infrastructure projects and low oil prices.

These factors will support the economy this year, she said.

She also forecast the tourism sector to expand 15%.

However, factors that could affect the economy are exports and drought crisis.

She said exports should shrink again this year for the third consecutive year due to slow economic recovery of the country’s trading partners.

Meanwhile the ongoing drought crisis will also affect consumption in the agricultural sector and reduce the country’s gross domestic product (GDP) by 0.5 percent or 60 billion baht, she added.