Thailandís economic confidence index has been improving and bright prospects are seen for the countryís economic growth in 2017 and 2018.
Government Spokesman Lieutenant General Sansern Kaewkumnerd quoted a survey, conducted by the University of the Thai Chamber of Commerce, stating that the countryís economic confidence index in October 2017 stood at the 64.1 level. It represents an upward trend for six consecutive months. The confidence index for the future economy was at the 80.8 level, showing an improvement in the third month.
Almost all economic figures show positive trends, such as private consumption expenditure, employment opportunities, tourism spending, and investment by small and medium-sized enterprises (SMEs). Moreover, exports have been expanding, and the stock index is rising, as well.
The Prime Minister stressed that the Government would do everything possible to improve the countryís overall economy. In 2014, the Thai economy grew by only 0.8 percent, and the growth rate rose by 3.2 percent in 2016. In the second quarter of 2017, the Thai economy expanded by 3.7 percent. The growth of the Thai economy is expected to grow by 3.8 percent in 2017.
The Government in 2018 will focus on strengthening the grassroots economy, promoting SMEs, and building new industries, especially digital technology. It will also fully invest in transport infrastructure, such as the electric train system, motorways, and airports.
Emphasis will also be placed on infrastructure development in the Eastern Economic Corridor in eastern Thailand. With more foreign investment and tourism income expected, the projection for the growth of the Thai economy is 4 percent for 2018.