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Thai planning agency narrows 2017 GDP growth outlook to 3.3-3.8 percent
May 15, 2017 / 4:22 AM / 7 months ago

Thai planning agency narrows 2017 GDP growth outlook to 3.3-3.8 percent

BANGKOK (Reuters) - Thailand’s planning agency said on Monday the economy is expected to grow 3.3-3.8 percent this year, compared with the 3.0-4.0 percent range it forecast three months ago.

An office building under construction is seen in Bangkok?s business district July 28, 2011. REUTERS/Sukree Sukplang

The National Economic and Social Development Board also said it expects exports to rise 3.6 percent this year, rather than increase 2.9 percent projected in February.

The Bank of Thailand has forecast 2017 economic growth of 3.4 percent, with exports increasing 2.2 percent.

Analysts polled by Reuters forecast that Southeast Asia’s second-largest economy will expand 3.3 percent this year.

The economy grew 3.2 percent last year.

Growth in Southeast Asia’s second-largest economy has lagged other regional peers since the military seized power in 2014 to end months of political turmoil. The junta has ramped up spending to boost domestic activity but large infrastructure projects have remained slow.

Reporting by Kitiphong Thaichareon and Orathai Sriring; Editing by Jacqueline Wong

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