Thailand’s economy is expected to expand by 1.4 percent for the whole of 2014, according to the latest projection by The Fiscal Policy Office.
Kritsada Chinawicharana, Director of the Fiscal Policy Office (FPO), suggested on Thursday the clearer political direction and recent economic stimulus measures will result in higher growth in consumption and private sector investment.
Coupled with the state’s continued disbursement of budgets, the Thai economy is expected to expand by 2.9 percent in the latter half of 2014. The current projection for the whole-year expansion is a downward revision from the 2 percent growth projection predicted in July.
Kritsada said this was due to the export and tourism sectors recovering more slowly than expected.
For next year the FPO projects that the Thai economy will expand by 4.1 percent, buoyed by state sector spending, higher consumption and increased private sector investment.
Exports are also expected to grow by 6.5% percent in tandem with the recovery of trading partners’ economies.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
