KBank: Minimum 3.9% Thailand GDP growth

The country’s economic growth is likely to expand by at least 3.9% this year and next, and bad loans have already peaked, says Kasikornbank (KBank) president Predee Daochai.

“The latest export results from October were higher than we expected, so GDP should grow at least 3.9% this year, surpassing our latest forecast of 3.7%," he said, referring to Kasikorn Research Center’s (K-Research) forecast.

The Commerce Ministry reported exports totalled US$20.1 billion (658 billion baht) in October, up 13.1% year-on-year, while the 10-month figure hit copy96 billion, up 9.7% year-on-year.

“If exports continue to grow at this rate the rest of this year, we could see at least 3.9% GDP growth this year or even higher if exports grow at a stronger pace," Mr Predee said.

He said other than merchandise exports, tourism and public investment would be the main engine of growth for this year.