Thai economy is expected to grow between 4.6 and 5.2 per cent this year, driven by recovery at private consumption, Kasikorn Research Center said.

The economic research house calculated on the assumption that inflation stayed at between 4.0 and 5.5 per cent.

It projected that the first quarter expansion of 5.5-5.7 per cent is likely—a figure close to fourth quarter’s 5.7 per cent last year.

Increased in income in agricultural business and government’s stimulus package are main factors to boost growth in all industries.

Based on economic fundamental, Kasikorn forecasts that Thai economy would grow averaged 4.9 per cent this year compared with last year’s 4.8 per cent on which the Brent crude price averaged at US$98 per barrel and inflation stayed at 4.8 per cent.

It projected that private consumption and investment will increase to 3 and 5.6 per cent respectively.

Exports would grow at slower pace of 12.5 per cent compared with 18.1 per cent last year and imports will expand 19.5 per cent compared with 9.6 per cent the year before, resulting to lower trade surplus of $7.7 billion against $14.9 billion last year.