An increase in Thailand's gross domestic product (GDP) in the final quarter of last year has contributed to Thailand's 5.3 percent economic growth for the entire year -- slightly higher than the predicted 5 percent expansion, Thai News Agency reported here Friday.
According to Kasikorn Research Centre, the positive momentum will possibly spill over into this year when the GDP could expand by 5.3 percent in the first quarter thanks to the improving economy abroad.
The research center limits this year's forecast GDP growth at 4. 5-5.5 percent due to the possible impact from surging production costs and appreciating Thai baht since earlier this year.
The two factors might put pressure on the revival of Thailand's business and exports, the center forecast.
It said the government's measures to alleviate the impact and accelerate budget spending on water resource management and infrastructure will help move the Thai economy ahead.