More confidence in Thailand’s forecast 4% economic growth next year: Govt

The government has forecast that the Thai economy will grow by four percent next year, with the latest economic confidence index continuing to rise.


Government Spokesman Lt Gen Sansern Kaewkamnerd has revealed the current economic confidence index is showing a trend of improvement, according to the survey from the University of Thai Chamber of Commerce made in October 2017 showing a continuing improvement in 6 consecutive months to 64.1 points.

The confidence index for the future economy has also improved to 80.8 points, which is an improvement for the third month.

“The overall confidence index is growing in a positive direction, from consumers expenditure, employment opportunities, travel spendings, and investment in SME businesses, all indicating more confidence among consumers.

“The economy is also being contributed by other positive influences, such as better performance in the export sector, the state welfare scheme, the best performing stocks index in 20 years, and the decreased oil retail price.”

Prime Minister Prayut Chan-o-cha has sent messages to the general public assuring the government will do all it can to improve the economy, emphasizing the economy has been performing better with the growth improved from 0.8% in 2014 to 3.7% in the second quarter of 2016.

The overall economic growth is expected to grow more than 3.8% throughout this year, he said.

He said the government has taken steps to reinforce the grassroots economy, promoting the SMEs, new businesses, creating new industries to position Thailand to become the center of the region for digital industry, along with the improvement of transport infrastructure.

More investments from China, Japan, the Republic of Korea, Hong Kong, and Singapore in 2018. Along with income from the tourism industry, the economy is expected to grow more than 4%.

The premier reassured the economic policies will remain unchanged despite the Cabinet reshuffle according to the planned objectives.