{
  "title": "Thailand: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand",
  "publication": "IMF Staff Country Reports, May 31, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/05/31/thailand-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-44948",
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  "summary": "This 2017 Article IV Consultation highlights the Thai economy’s continued recovery in 2016. GDP growth reached 3.2 percent, driven mainly by exports of services and public investment. Amid subdued import growth and soaring tourism, the external current account strengthened further to 11.",
  "publishDate": "2017-05-31",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Economic performance in 2016",
      "content": "- GDP growth reached 3.2 percent, driven mainly by exports of services and public investment.\n- Subdued import growth accompanied soaring tourism.\n- The external current account strengthened further to 11.4 percent of GDP."
    },
    {
      "heading": "Inflation and prices",
      "content": "- Average headline inflation was 0.2 percent, below the tolerance band for the second year in a row.\n- Low energy prices and persistently weak core inflation were cited as key factors keeping headline inflation subdued."
    },
    {
      "heading": "Near- to medium-term outlook",
      "content": "- The recovery is expected to advance at a moderate pace in the near to medium term.\n- Public investment should remain a key driver, rising over the next few years in line with the government’s infrastructure plans and crowding in private investment."
    },
    {
      "heading": "Policy implications and priorities",
      "content": "- Continue public investment programs to support growth and crowd in private investment in line with announced infrastructure plans.\n- Monitor inflation closely given persistently weak core inflation and low energy prices that have kept average headline inflation at 0.2 percent for the year.\n- Maintain vigilance on external developments given a strong current account position at 11.4 percent of GDP amid subdued imports and strong tourism-related exports of services.\n\nThailand: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand — IMF Staff Country Report No. 2017/136\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/05/31/thailand-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-44948"
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    "Published: May 31, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484301814.002",
    "GDP growth reached 3.2 percent, driven mainly by exports of services and public investment.",
    "Subdued import growth accompanied soaring tourism.",
    "The external current account strengthened further to 11.4 percent of GDP.",
    "Average headline inflation was 0.2 percent, below the tolerance band for the second year in a row.",
    "Low energy prices and persistently weak core inflation were cited as key factors keeping headline inflation subdued.",
    "The recovery is expected to advance at a moderate pace in the near to medium term.",
    "Public investment should remain a key driver, rising over the next few years in line with the government’s infrastructure plans and crowding in private investment.",
    "Continue public investment programs to support growth and crowd in private investment in line with announced infrastructure plans.",
    "Monitor inflation closely given persistently weak core inflation and low energy prices that have kept average headline inflation at 0.2 percent for the year.",
    "Maintain vigilance on external developments given a strong current account position at 11.4 percent of GDP amid subdued imports and strong tourism-related exports of services.",
    "**Country Report**"
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