The Bank of Thailand (BoT) has raised its forecast for the country’s economic growth in 2017 to 3.9 percent from 3.8 percent (Photo VNA)
Bangkok (VNA) – The Bank ofThailand (BoT) has raised its forecast for the country’s economic growth in2017 to 3.9 percent from 3.8 percent.
The central bank also forecast the Thai economywill expand by 3.9 percent in 2018, up from its previous estimate of 3.8percent growth.
According to the bank, export - the main driverof the country - will increase by 9.3 percent this year, surpassing theanticipated level of 8 percent.
In 2018, Thailand’s export is likely to rise by4 percent, higher than the previous forecast of 3.2 percent.
The inflation is projected to stand at 0.7percent in 2017 and 1.1 percent in 2018.
In November, the National Economic and SocialDevelopment Board (NESDB) adjusted its forecast for local economic growth in2017 from 3.5-4 percent in August to 3.9 percent.
The NESDB also anticipated the 2018 growth willrange between 3.6-4.6 percent.
In 2016, Thailand recorded economic growth of3.2 percent./.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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The Bank of Thailand (BoT) has raised its forecast for the country’s economic growth in 2017 to 3.9 percent from 3.8 percent (Photo VNA) 
