BANGKOK: The Fiscal Policy Office has maintained this year’s economic growth forecast at 3.3% following public spending and expanding tourism.
Director of the Fiscal Policy Office Kritsada Chiranawicharana said the Thai economy in the second half of 2016 would grow better than the first half. The growth rate would likely stand between 3.0% – 3.6% mainly due to the government’s policy to expedite spending.
As for tourism, the number of foreign tourists continuously grew. In the first six months this year, there were more than 16.6 million foreign tourists, an increase of 12%, visiting Thailand. Private consumption will likely increase by 2.3%. The office also predicted that investment in the private sector would be better than last year by expanding by 2.6%. However, it forecast that this year’s export growth would be -19% due to the global economic slowdown.
