World Bank: Thailand’s economy to grow 3.1 percent in 2016
Thailand’s economy is expected to grow by 3.1 percent in 2016 compared to the previous forecast of 2.5 percent, said Kiatipong Ariyaprucha, the World Bank (WB)’s senior economist for Thailand.
Bangkok (VNA) – Thailand’s economy is expectedto grow by 3.1 percent in 2016 compared to the previous forecast of 2.5percent, said Kiatipong Ariyaprucha, the World Bank (WB)’s senior economist forThailand. The raise was driven by effective fiscal policies and growthin investment and budget division, he added. The expert also predicted that the Southeast Asian economicgrowth would reach 3.2 percent in 2017. Despite positive recovery, Thailand’s economy still expandsat a slower pace than neighbouring countries, which averaged 4 – 5 percent. The country would be able to increase its annual growth at 4percent if the government liberalises its service sector with members of the ASEANEconomic Community, said the WB specialist. Thailand’s economy is expected to perform better on the backof the bright prospect of the US and global economies, which help improveglobal import demand, thus boosting Thailand’s exports.-VNA
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Illustrative image (Source: Chiang Rai Times) 
