The regulations could affect production in the manufacturing sector in the short-term while its effects on the economic growth will need further assessment, he said. He forecast that Thai economic growth would come in at 3.6% this year, underpinned by a strong recovery in merchandise exports, which are expected to grow 4.7%. "If the government can't implement these projects as planned, Thailand's growth could be 3.4% this year," he said. The Manila-based multinational lender recently raised its forecast for the region to 5.9% from 5.7%, on the back of stronger-than-expected export demand, while it revised up its 2018 growth forecast. The ADB has maintained its forecast for Thai economic growth at 3.5% this year and 3.6% next.

Source: Bangkok Post July 25, 2017 00:00 UTC