Economy expected to expand 3.2% in 2016: Somkid
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Economy expected to expand 3.2% in 2016: Somkid

Deputy Prime Minister Somkid Jatusripitak delivers a keynote speech at a forum organised by the Economic Reporters Association on Wednesday. (Photo by Krit Promsaka na Sakolnakorn)
Deputy Prime Minister Somkid Jatusripitak delivers a keynote speech at a forum organised by the Economic Reporters Association on Wednesday. (Photo by Krit Promsaka na Sakolnakorn)

Thailand's 2016 GDP growth is expected to be 3.2%, Deputy Prime Minister Somkid Jatusripitak said on Wednesday, adding that Southeast Asia's second-biggest economy was still on shaky ground.

"There are no investors; investors do not dare invest. Exports are not good. Autos are the only good thing ... for the whole year, 2016 growth should be around 3.2%," Somkid told reporters at a seminar organised by the Economic Reporters Association.

Thailand's export-reliant economy has struggled since a May 2014 coup by the army and exports and domestic demand remain subdued.

Last year, the military government introduced various measures to boost both private and public spending.

The Finance Ministry has forecast economic growth of 3.4% this year. 

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