Bangkok (NNT/VNA) - The Bank of Thailand has reported that the nationaleconomy has continued expanding on the back of exports and tourismgrowth.
PornpenSodsrichai, Director of the Economic Analysis Office at the Bank of Thailand, hassaid that the Thai economy continued to expand in July, when exports grew 8.0percent from last year and tourism expanded 4.8 percent year-over-year.
However, she notedthat private consumption grew at a slower pace as falling farm product pricesresulted in a contraction in farm income, while spending on durable goodscontinued growing.
Meanwhile,private investment grew, as reflected by the increase in construction materialsales and permitted construction areas, and public spending also rose as aresult of higher disbursements of a provincial development budget andconstructions projects of the Department of Highways.
Thailand’sheadline inflation was 0.17 percent in July, an increase from minus-0.05percent due to an increase in retail petroleum prices following the increase inthe global crude oil price, while the baht remained strong and helped attractforeign investors into the local stock market.-VNA
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