Thailand’s gross domestic product (GDP) will grow 4.6 per cent this year, higher than the 4.2 per cent forecast by many other financial institutions, according to projections by London-based global banking giant HSBC.
HSBC economist Frederic Neumann said the higher-than-expected expansion stemmed from a continued increase in exports and local consumption. It is believed that consumption would play a more active role in recovering the economy because interest and inflation rates remain low and private investment begins to pick up.
Also, the atmosphere for tourism improved as reflected by foreign investor visiting Thailand on a continuing basis, and the number might rise to a new record high.
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