BANGKOK – The Krungsri Asset Management company has predicted that the Thai economy will expand by 3.2% this year and the stock index will stand at 1,432 points.
Acting chef investment officer of Kringsri Asset Management Supaporn Leenabanchong said tourism, people’s spending and investment by the government would help the Thai economy grow by 3.2% in 2016. However, there were still negative factors which might affect the growth estimate, including the Chinese economic slowdown as well as decreasing prices of commodities and agricultural products, said Ms.Supaporn.
As for the Thai stock market, Ms.Supaporn said short-term capital outflow was likely and held a positive outlook for investment in the stock market. She expressed her belief that inflow of foreign capital would go back to Thailand when investment by the government solidified at the end of the first quarter to the second quarter.
Performance of listed companies had a tendency to continuously increase with a profit growth projection of 10%, said Ms.Supaporn. She also predicted that the government would maintain the benchmark interest rate at 1.50% throughout the year since this rate was sufficiently supportive of an economic recovery.
