‘Thailand 4.0’ should get GDP growth up to potential, World Bank says

The World Bank believes Thailand should be able to achieve long-term annual economic growth of 4-5 per cent if the government can successfully push through its “Thailand 4.0” model. The new economic model would help draw private investment, the Bank’s economist for Thailand, Kiatipong Ariyapruchya, said on October 5. The World Bank is the latest major global institution to revise upward its forecast for Thailand’s economic growth for this year, now predicting 3.1 per cent, up from its forecast of 2.5 per cent in June. Last month, the Asian Development Bank revised up its growth forecast slightly to 3.2 per cent from 3 per cent previously, praising the country’s investment in infrastructure. The Bank of Thailand last month also issued a slightly more optimistic forecast, predicting that gross domestic product would grow by 3.2 per cent, compared with the previous target of 3.1 per cent.

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