3.3% growth in GDP expected

According to October’s economic forecast, this year’s growth will be in a range of 3.0-3.5 per cent, he said. Last year’s GDP growth was 2.8 per cent, said Krisda, who also acts as director-general of the ministry’s Fiscal Policy Office.
The government’s budget disbursement has accelerated, particularly on road systems, water management projects, and the urgent phase of the transport-infrastructure project, he said.
The country has also seen a sharp rise in the number of tourists, and this could boost expansion of the tourism-related industries, he said. 
Private consumption will likely continue its rise from the previous year in light of increases in income and employment in the service sector, while private investment is expected to make a recovery thanks to low interest rates and the progress of government projects, he said.
However, Thailand is still expected to see export contractions due to economic slowdowns in trading-partner countries, he said. 
This year’s headline inflation is forecast at 0.4 per cent with an expected range of 0.1-0.6 per cent after a recovery in domestic demand, and is expected to remain low, following world crude-oil prices. 
Next year’s GDP growth is expected in a range of 2.9-3.9 per cent from consistently increasing government expenditures, particularly for new transport-infrastructure projects and expected increases in farm income, which could boost private consumption, he said. 
Transport-infrastructure projects expected to commence in the latter half of 2017 include railway double-tracking and urban rail projects.
Exports next year will likely gain from expected expansion in Thailand’s trading partners and depreciation of the baht, Krisda said.
Headline inflation is forecast at 2.1 per cent in 2017 with an estimated range of 1.6-2.6 per cent on the back of likely rises in crude-oil prices and a weaker baht, he said.