Private sector optimistic about GDP growth in latter half of 2018

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has projected continuous growth of the Thai economy in the second half of the year despite a possible slowdown.

After the Thai economy in the first quarter posted the highest growth rate in five years at 4.8 percent, the JSCCIB has predicted that the growth momentum will continue through the latter half of this year, though at a slower pace than in the first quarter. In this regard, the committee is confident the whole year’s growth of GDP will hover above 4 percent, with major support from the export sector.

As for risk factors, the JSCCIB advised that close attention be paid to agricultural prices which have remained at low levels, rising fuel prices and changes in the US trade policy.

At its next meeting, the JSCCIB will assess the impact of all these factors on the Thai economy and will consider revising its GDP growth projection for the entire year in accordance with the situation.

Information and Source
Reporter : Surapan Laotharanarit
Rewriter : Surapan Laotharanarit
National News Bureau & Public Relations

Comments

NLA’s vice president denies claims of legislative support for government

A vice president of the National Legislative Assembly has denied claims that the legislature has been trying to help members of the current government in the next election. Mr. Peerasak Porjit, the Second Vice President of the NLA, went with a number of members of the legislature on Monday to meet over 1,000 farmers, who represent growers from 67 provinces, to collect opinions for the drafting of the Rice Act. The NLA said that the new law is not intended to limit the rights of farmers and merchants but to ensure standard practices and a correct understanding among all. According to the draft law, rice buyers will have to register themselves and sellers will have to produce receipts while a system will be set up to collect information for a rice database. The NLA expects the new law to be ready for submission to the main assembly by August 20 before it goes through a normal process. When asked if the new law might appear to be an attempt to help garner support for the current...

Thais attend events to celebrate Royal Birthday

Thais from all walks of life have attended events celebrating the 86th birthday anniversary of Her Majesty Queen Sirikit of the Ninth Reign. Residents of Wiang sub-district of the capital district of Phayao province gave alms to 87 monks at Wat Si Khom Kham, marking the auspicious occasion of Her Majesty’s birthday. In Uthai Thani province, residents gathered to give offerings to monks in the early hours of August 12th. Donning blue, the color of Her Majesty’s birthday, a number of residents also made merit in dedication to Her Majesty the Queen by releasing fish into the Sakae Krang river basin. Similarly in Chaiyaphum Province, residents took part in an almsgiving ceremony for 87 monks and novices. The provincial administrative organization also set up a booth for people to write well-wishes to Her Majesty. The office later held an event recognizing exemplary mothers. Meanwhile, the Chiang Rai Red Cross Chapter and Chiangraiprachanukroh have jointly organized a blood drive an...

ACMECS leaders to implement master plan for 5-year development cooperation

The leaders of countries participating in the Ayeyawady – Chao Phraya – Mekong Economic Cooperation Strategy (ACMECS) Summit, vowed to implement a five-year master plan for regional development, before the official opening ceremony this morning. The five member countries are Cambodia, Laos, Myanmar, Vietnam and Thailand, which also constitute the CLMVT cluster. Prime Minister Gen. Prayut Chan-o-cha presided over the opening ceremony. The summit is centered on approaches to carrying out the ACMECS Master Plan 2019-2023. The plan is the first of its kind to highlight infrastructure connectivity among the five member nations, as well as joint development of financial regulations and human resources. The summit is also expected to endorse the Bangkok Declaration. The declaration reflects the political intentions of ACMECS countries, while facilitating development cooperation in the region and the unification of the ASEAN bloc. World leaders, including Chinese Prime Minister Li K...

Thailand News Agency

Search This Blog