Bangkok – The University of the Thai Chamber of Commerce (UTCC) says the country’s economy remains strong in spite of the ongoing trade war between the United States and China.
Thanawat Polvichai, director of the Economic and Business Forecast Centre of the UTCC, on Saturday revealed that the country hasn’t yet felt the impact of the global trade war and that the Thai economy remains strong despite rising crude oil prices in the global market and the lower number of Chinese tourists arriving in Thailand.
If the country is able to gain back Chinese tourists’ confidence by November, coupled with various tourism-related festivities and government spending, Thanawat forecasts that the overall economy will expand by 4.6% this year.
As for 2019, he said government infrastructure projects and the expansion of the Eastern Economic Corridor (EEC) will determine the growth of the Thai economy, which the center expects should range between 4% and 4.5%.
