Monday, September 19, 2016

The Return Of Private Investment To Deliver Stronger GDP Growth

Economic Research
                                      19 September 2016
Thailand

Economic Outlook




Thailand Transport Infrastructure Plan (TTIP), in our view, is set to ramp up meaningfully in 2017 with the commencement of construction for the pink, yellow and orange MRT lines, the crown jewels in terms of earnings visibility, Suvarnabhumi Airport expansion and marine port facility upgrade. The latest set of projects will open up opportunities for property development and services providers in the medium term, and coupled with enduring accommodative monetary policy, is likely to unleash a wave of private investments in its slipstream. Meanwhile, with private consumption momentum on a sustainable path amid an election year, government spending will now turn to longer-term objectives aimed at addressing the competitiveness of its industries. However, in the immediate term, external demand will continue to face challenges in the year ahead, which will afflict the manufacturing sector. In aggregate, we envision for Thailand’s GDP to grow 3.8% in 2017, picking up from an estimated 3.3% gain this year.

Economist:  Ng Kee Chou | +603 9280 2179


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