CEOs positive on economic growth

CEOs positive on economic growth

Low purchasing power is a factor in economic growth that is worrying company executives in the latest CEO survey by the Stock Exchange of Thailand. (Photo by Thanarak Khunton)
Low purchasing power is a factor in economic growth that is worrying company executives in the latest CEO survey by the Stock Exchange of Thailand. (Photo by Thanarak Khunton)

Most executives of firms listed on the Stock Exchange of Thailand have projected the economy to grow by between 2% and 4% this year, a survey says.

The CEO survey by the SET said 35% believe gross domestic product would expand in the range of 2-3%, while 31% were slightly optimistic that economic expansion would be in the region of 3-4%.

They identified public expenditure, oil prices and political stability as top three key drivers for the economy, while slumping domestic purchasing power topped their concern, according to the survey released on Wednesday.

The survey was conducted on leaders of 68 companies listed on the SET index and 16 in the MAI market with combined market capitalisation of 40% of the Thai bourse from Jan 16 to March 15.

The economic projections of the company leaders is in line with government agencies.

The Fiscal Policy Office on Wednesday expected the economy to grow 3.7% this year, down from 3.9% in its previous forecast. The Bank of Thailand has predicted a 3.8% growth rate.


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