According to the fiscal policy report last year, the economic growth in Thailand could reach the 4.1% mark. Though, a 4.5% increase was expected earlier, after declining in export in the last two months of 2018 because of the trade war. Thus the expectation was kept at 4.1%, which Thailand could achieve for sure.
The growth was expected to be driven by private expenditure, government’s economic stimuli, including social welfare card scheme and infrastructure investment, and domestic consumption.
As for this year, the FPO director said that it will rise to 4%, considering public-private partnership projects, the general election, and public spending.
Deputy Prime Minister Somkid Jatusripitak said that if there is 3.3% economic growth in the fourth quarter, then the nation will end the year with a 4% up. Further adding, he spoke about the positive impacts in negotiations between China and the US have led to profits in exports and are expected to assist the GDP in the 4th quarter.
In 2019, the country is all set to invest more than 2 trillion baht in the mega projects, including dual railways, energy production in the Eastern Economic Corridor (EEC) and high-speed railway.
However, even after the optimism, there are some associated risk factors, including global economic slowdown, currency fluctuations, the global stock market, and the trade war between the US and China.
