Thailand’s economic growth for 2017 is now believed to be over 4%, reflecting significant improvement that the government has made in its effort to drive economy.
This was revealed by Dr Somkid Jatusripitak at the economic forum organised by the Economic Reporters Association yesterday(Jan 10).
He said as the third quarter performance showed a 4.3% growth, and 4.5-5% expected for the fourth quarter, he then was confident the average growth for the full year would be over 4%.
He was also bullish that the growth would continue for this year.
Contributing to satisfactory growth were the bullish stock market, low inflation rate, low debt to growth ratio of 42%, Thailand’s 4.0 strategy, record high consumers confidence in 35 months, record high industrial confidence in 22 months and implementation of government infra structure projects.
He said with these positive factors, he said Thailand will become the magnet of foreign investors and investment hub in Asia this year.
For this year he emphasized on grassroot economy saying that everyone must help, and on agriculture reform to strengthen the sector.
He also focussed on small scale business operators saying more measures are needed to support them to survive, and to create value for their farming products.
He cited assistance measures that are now implemented by state banks in the second phase scheme, saying they will not only give them money, but also will have specialists going to meet them and give them advice on supplementary occupation to earn extra incomes.