Prime Minister Prayut: Economic growth this year will be 3.3-3.8%, up from 3.2% in 2016

Prime Minister Prayut Chan-o-cha has assured capital investors that economic growth this year will be 3.3-3.8%, up from 3.2% in 2016.

Over the past two years, the government has developed the country’s strength and competitiveness in both economic and social aspects, the premier told participants at a conference organised by the Stock Exchange of Thailand.

His statement was supported by Deputy Prime Minister Somkid Jatusripitak, who told the conference that economic growth this year would be at least 3.5%, based on performance in previous quarters.

He said during first quarter of 2017, Thailand's growth rate reached 3.3%, up from 3.2% in 2016, 2.9% in 2015 and 0.8% in 2014 – the year Thai economic growth hit a bottom.

Mr Somkid said that barring unforeseen circumstances, the improving global economy would help Thailand's export growth in 2017 reach double digits.

Gen Prayut said the government has updated many laws to be on par with international standards, particularly regarding business taxes and protection of retail shareholders’ rights.

He said that it was up to all parties to help move the country forwards as the government could not act alone.

The military junta leader said that despite frequent distortion of the truth, many political problems have solved by "righteousness", and the country is on track with the third stage of the Government's roadmap.

“The government is now preparing for the transfer [of power to the next government], which I will try to implement as early as possible to ensure continuity and lack of disruption. We have already achieved reform on more than 130 issues. The world is changing every day, so we have to reform every day too,” said Gen Prayut.

Source: http://www.bangkokpost.com/business/news/1273634/prayut-thai-gdp-to-grow-3-3-3-6-in-2017