FRIDAY, March 29, 2024
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KResearch raises economic growth forecast to 3.3%

KResearch raises economic growth forecast to 3.3%

Kasikorn Research Centre on Wednesday revised upward Thailand's 2016 economic growth forecast to 3.3 per cent from 3 per cent.

The adjustment was made after the research house saw impressive growth in gross domestic product (GDP) in the first half thanks to government spending and tourism revenue.

The Thai economy expanded by 3.4 per cent in the first half.

However, KResearch predicted that growth in the second half would be slightly lower, at 3.3 per cent, as tourism revenue in the fourth quarter would be less robust compared to the same period in the previous year. Tax incentives boosted domestic travelling in the fourth quarter of last year.

The Thai economy is expected to expand by 3.2 per cent this year, according to the forecasts by the Bank of Thailand and the Asian Development Bank. 

 

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