Somkid: GDP to exceed 4% in 3rd quarter

The country’s gross domestic product (GDP) in the third quarter of this year will exceed 4%, Deputy Prime Minister Somkid Jatusripitak projected yesterday (Nov 9).

Mr Somkid was speaking at the Thailand Economic Outlook 2018 seminar under the topic “Thai Economy Transformed.”

As he said that the government was committed to continuing reform to national economy next year, the country’s growth could be expected further.

He then said the GDP for the 3rd quarter of this  year will surpass 4%.

He expressed confidence of the growth, attributing this to the better-than-expected recovery of the national economy.

He expects that the Bank of Thailand will make adjustments to its GDP forecast for 2018 at the latter part of the year.

He went on to confirm that the government will be sticking to its plans to reform the economy not least of which is to provide assistance to low income earners, small and medium enterprises, and to help farmers to strengthen their economic standing.

But on rumours of an impending cabinet reshuffle affecting these goals, the deputy prime minister said it will not affect the government’s plans for the economy.

Instead he was confident with his economic team and will be moving ahead with plans to reform the economy regardless.

He said any change to the cabinet was the Prime Minister’s prerogative.