BANGKOK, Thailand July 17 (NNN-Bernama) -- The University of the Thai Chamber of Commerce says the Thai economy and Thai exports should grow at 5.6 per cent and 8.7 per cent respectively this year, Thai News Agency (TNA) reported.
Director of the university’s Economic and Business Forecasting Centre, Thanawat Polvichai, said the Thai economy expanded by 4.4 per cent in the second quarter of this year, compared with 0.3 per cent growth in the first quarter.
As the Thai economy is gaining momentum, he believes economic growth will improve in the second half of this year, and the Thai economy should expand by 5.6 per cent throughout this year.
This result was derived mainly from increased public and private spending, as well as government stimulus plans, which include salary and wage hikes, and the tax rebate for first-time home and car buyers.
Polvichai however said that rising oil prices and global economic recovery from the debt crisis in Europe are still of major concern.