15:02 | 27/12/2017 Global Economy
The Bank of Thailand (BoT) has raised its forecast for the country’s economic growth in 2017 to 3.9 percent from 3.8 percent.
|The Bank of Thailand has raised its forecast for the country’s economic growth in 2017 to 3.9 percent from 3.8 percent - Photo VNA|
The central bank also forecast the Thai economy will expand by 3.9 percent in 2018, up from its previous estimate of 3.8 percent growth.
According to the bank, export - the main driver of the country - will increase by 9.3 percent this year, surpassing the anticipated level of 8 percent.
In 2018, Thailand’s export is likely to rise by 4 percent, higher than the previous forecast of 3.2 percent.
The inflation is projected to stand at 0.7 percent in 2017 and 1.1 percent in 2018.
In November, the National Economic and Social Development Board (NESDB) adjusted its forecast for local economic growth in 2017 from 3.5-4 percent in August to 3.9 percent.
The NESDB also anticipated the 2018 growth will range between 3.6-4.6 percent.
In 2016, Thailand recorded economic growth of 3.2 percent.