PPSC adjusts growth rate projection up to 3.7-4 percent for 2017

The Public and Private Sectors Committee has adjusted up economic growth rate projection for the whole of this year to 3.7-4 percent from earlier projection of 3.5-4 percent, thanks to steady export expansion.

Mr Jen Namchaisiri, president of Federation of Thai Industries, said Tuesday that export growth which was adjusted up to 6.5-7.5 percent from earlier projection of 3.5-4.5 percent, compounded by expansion in tourism, domestic consumption and investment of the private sector prompted the Public and Private Sectors Committee to adjust its growth rate projection.

He pointed out that there were positive signs from all sectors during the first nine months of the year whereas main trading partners of Thailand such as the US, China and Japan are experiencing economic recovery.

He also attributed investments in the eastern economic corridor projects for stimulating economic expansion.

However, Mr Jen warned that there is still risk factor that needs to be closely watched out such as crisis in the Korean Peninsula and political changes in Europe, including Germany and France, which may impact on the money market.

Whether the impacts of economic expansion have trickled down to grassroot level or not, Mr Jen said that one has to travel to tourist provinces to observe the economic situation and how businesses have performed over there.

The post PPSC adjusts growth rate projection up to 3.7-4 percent for 2017 appeared first on Thai PBS English News.

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