Economics
Thailand Sees Strong Growth Next Year as GDP Beats Forecasts
- Economy seen expanding 3.6 percent to 4.6 percent next year
- Central banks will need to guard against inflation risks
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Thailand’s economy grew faster than economists estimated last quarter and is on track for a strong year in 2018, underpinned by a pick-up in exports and booming tourism.
After years of lagging its neighbors, Thailand’s economy is finally catching up with the economic boom in Southeast Asia, fueled by a global trade recovery and a flood of visitors from China. The end of a yearlong mourning period for King Bhumibol Adulyadej strengthens the outlook for consumer spending into next year, while the government is ramping up spending on infrastructure projects to support growth.