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Thai economy predicted to grow 4.2 pct in 2016

Xinhua, September 10, 2015 Adjust font size:

The Thai economy is expected to grow by 4.2 percent in 2016, mainly driven by the government's stimulus measures and investment, the University of the Thai Chamber of Commerce (UTCC) said Thursday.

Increased political stability and continuous expansion of tourism will also contribute to the country's economic growth next year, the UTCC's vice-president for research Thanavath Phonvichai said.

In 2016, tourist arrivals in Thailand are forecast to reach 31. 35 million and Thai exports to rise 5.3 percent from 2015, according to the UTCC forecast.

Meanwhile, the UTCC slightly lowered its growth projection for 2015 from 3.2 percent to 3.1 percent, Thanavath said, adding that political stability and the prospects of 29 million foreign tourists visiting Thailand will help achieve the 3.1-percent growth.

In addition, inflation is predicted to be -0.6 percent and 1.4 percent for 2015 and 2016, respectively. Endi