4% economic growth forecast this year

The Finance Ministry has forecasted a 4% economic growth this year, citing improvement in economy.

Fiscal Policy Office director Krisada Chinavicharana attributed the expected 4% growth to improved economic condition in February as a result of a 3.4% increase in collection of value-added tax.

He said increase in VAT reflected higher private spending, and strong growth in the agricultural sector in terms of outputs and crop prices.

He said the ministry forecasts full-year GDP growth at 3.6% but stated further that 8 it can reach 4% if public investments, particularly in the five double-track railway projects.

This will also bolstered by the governments welfare scheme for low income earners which goes as planned, he added.

Source: Thai Public Broadcasting Service (Thai PBS)

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