The Fiscal Policy Office has readjusted economic growth rate projection for this year from 3.4 to 3.6 percent thanks to the additional mid-year budget amounting to 190 billion baht.
FPO director-general Krisda Chinavicharana said Monday that the revised growth projection was based on the assumptions that growth rate of Thailand’s trading partners would grow 3.4 percent, Dubai crude is priced at $53.7 per barrel, exchange rate of 35.75 baht per US dollar, 1.5 percent policy rate, 35 million foreign arrivals, government expenditure increases by 5.1 percent and government sectors’ investment expands by 10.1 percent.
He said that if disbursement of investment budget is accelerated, exports expanded beyond expected rate and private investment expanded, there is a good possibility that the growth rate may reach four percent.
Growth rate for 2016 was registered at 3.2 percent compared to 2.8 percent a year earlier.
Source: Thai Public Broadcasting Service (Thai PBS)