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3.3 percent GDP forecast by Kasikorn Research Centre

Kasikorn Research Centre has predicted the economic growth rate for this year at 3.3 percent, thanks to export expansion from earlier projection of 0.8 percent to a revised projection of 2 percent as a result of increasing demand for and prices of Thai products.

The centre, however, has revised down projected investment of the private sector to 1.5 percent from 2.8 percent due to uncertainty over government's investments in some projects, prompting private investors to adopt wait and see attitude.

Mr Chao Kengchon, managing director of the centre, is optimistic that economic situation for the second half of the year will be better than the first half as the Central Fund and government funds will be disbursed in the third quarter coinciding with tourism expansion in the high season.

He also predicted increased investment of the private sector during the second half of the year.

Kasikorn Research Centre has predicted the growth rate for the first half of the year at 3.1 percent and 3.4 percent for the second half or 3.3 percent for the whole year.

The centre forecast financial market fluctuations resulting from three interest rate adjustments by US Federal Reserve which have brought the interest rate to 1.5 percent.

Source: Thai Public Broadcasting Service (Thai PBS)

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