Thailand’s gross domestic product (GDP) increased 3.7 % year-on-year in the second quarter of 2017, reported the National Economic and Social Development Board.

Illustrative image (Source: Money International)

This was the fastest growth of the Southeast Asian nation in the past four years. The country’s GDP grew 3.3% in Q1.

Economic outlook of Thailand this year has improved as export is forecast to go up more than 4%. Thailand’s unstable politics made investors in the private sector hesitate while consumer spending stood at a moderate level, according to analysts.

However, analysts warned of risks as Thailand is struggling to restrict the rise of the Thai baht. The currency has increased 7.9% compared to the US dollar, lowering competitiveness of Thai export products.

The Bank of Thailand has left its benchmark interest rate unchanged at 1.5% in more than two years while the country grapples with high consumer debt.

(Source: VNA)