SET-registered companies CEOs obtimistic on this year’s economic growth

Top executives of companies listed on the Stock Exchange of Thailand (SET) remained confidence in the country’s economic outlook, saying 3-4% growth could be expected this year.

According to the SET’s survey of views of CEOs of SET-registered companies, most CEOs believe the economy will be able to grow by 3-4%.

But they were concerned about the value of the baht, the rising labour costs, the uncertain political situation and the chronic household debt.

Meanwhile, Siam Commercial Bank’s senior vice president Yanyong Thaicharoen stated that household debt continues to rise in particular among farmers and low income families.

This was mainly due to drought problem and low agricultural produce prices that forced more farmers to take out loans which in turn severely impede purchasing power recovery, he said.

On the whole, he was confident that the economy will be able to grow by at least 4%, Mr Yanyong said.