TMB Analytics forecasts that the country’s economy will grow by 3.5 percent in 2017, as risks remain in the global economy.

TMB Analytics Director Benjarong Suwankiri expects this year’s GDP to be 2.7 percent, adding that the government’s economic stimulus measures will begin to create an impact on the economy in the 4th quarter of this year until the end of next year.

Therefore, GDP is set to expand to 3.5 percent in 2017 due to public and private investment, as well as tourism.

The government has plans to invest 1.8 trillion baht from 2015 until 2022, which would create a positive impact on private investors, while stimulating the construction and real estate sector.

He stated that next year’s revenue will include some risky factors, such as dependence on agricultural products as revenue remains low.

Other factors include, the drought situation, high household debt and the global economic situation.

Earlier this month The World Bank has cut Thailand’s economic growth forecast for 2015 to 2.5% from 3.5%, the lowest in the East Asia and Pacific region.

Forecast for 2016 is also set at 2% and 2.5% for 2017 by the World Bank


Since the last East Asia and Pacific Economic Update was published in April, greater uncertainty about the global economy has weighed on the performance and prospects of developing East Asia and Pacific (EAP).

says the World Bank in its latest regional report

Thailand has the lowest GDP growth forecast (2.5%) among Asean countries where growth prevision is set at 4.3% for 2015.

Earlier last month, Thailand’s central bank had already decided to again revise downward its economic growth projection for 2015 to 2.7% as a result of weaker-than-expected export performance and private spending

About the author

East Asia Forum provides a platform for the best in East Asian analysis, research and policy comment on the Asia Pacific region and world affairs.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand’s Growth disappoints despite boost from reopening

A breakdown of GDP showed that growth was uneven. Encouragingly, the recovery in household spending gained further traction, rising 6.9% y/y (1.7% q/q) following a more substantive easing in domestic and border restrictions.

Asia’s Economies Face Weakening Growth amid Rising Inflation Pressures

Economic growth in Asia and the Pacific is projected to decelerate to 4.2 percent this year, 0.7 percentage points less than forecasted in April and slower than the 6.5 percent growth in 2021.

Tourism Boosts Pacific Economic Outlook, but Climate change, Rising Prices Pose Risks

After an average economic contraction of 0.6% in 2021, ADB’s Pacific Economic Monitor (PEM), released today, says the Pacific is expected to grow by 4.7% this year and 5.4% next year.