ID :
108680
Fri, 02/26/2010 - 11:47
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Shortlink :
http://m.oananews.org//node/108680
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Thai government FPO chief concerned over impact of court ruling
BANGKOK, Feb 26 (TNA) – The investment, consumption, and tourism sentiment will come to a standstill if the ruling by the Supreme Court’s Criminal Division for Holders of Political Positions on the confiscation of ex-premier Thaksin Shinawatra’s frozen assets worth over Bt76 billion has intensified the political standoff, according to the Fiscal Policy Office (FPO).
FPO Director-General Satit Rungkasiri said that should the court ruling escalate the current political standoff without leading to violence, it would nonetheless affect stock market investment to a certain extent.
However, if the standoff turns violent, but does not involve closing airports, it would still shake investor confidence and bring tourism into a standstill.
He said the economy in January 2010 continued recovering with exports growing significantly, particularly in Asian countries, and local spending and private consumption, improving without interruption.
In terms of Thailand's economic stability, the unemployment rate continued declining to 0.9 per cent of the workforce and the international reserves remained high at US$142.4 billion.
The value of exports in January grew more than 30.8 per cent year on year. Main export products include electronics and electrical appliances with China, India, and Asia becoming key destinations.
The local spending and private consumption had improved, boosted by a surge in farmers’ actual incomes by 14.7 per cent a year and the production of motorcycles by 37.2 per cent a year.
Given these positive factors, the FPO projects that the economy in the first quarter of this year would continue growing from the fourth quarter of last year which saw economic expansion of 5.8 per cent, and planned to announce its revised economic growth estimate for this year, upward, on March 29. (TNA)
FPO Director-General Satit Rungkasiri said that should the court ruling escalate the current political standoff without leading to violence, it would nonetheless affect stock market investment to a certain extent.
However, if the standoff turns violent, but does not involve closing airports, it would still shake investor confidence and bring tourism into a standstill.
He said the economy in January 2010 continued recovering with exports growing significantly, particularly in Asian countries, and local spending and private consumption, improving without interruption.
In terms of Thailand's economic stability, the unemployment rate continued declining to 0.9 per cent of the workforce and the international reserves remained high at US$142.4 billion.
The value of exports in January grew more than 30.8 per cent year on year. Main export products include electronics and electrical appliances with China, India, and Asia becoming key destinations.
The local spending and private consumption had improved, boosted by a surge in farmers’ actual incomes by 14.7 per cent a year and the production of motorcycles by 37.2 per cent a year.
Given these positive factors, the FPO projects that the economy in the first quarter of this year would continue growing from the fourth quarter of last year which saw economic expansion of 5.8 per cent, and planned to announce its revised economic growth estimate for this year, upward, on March 29. (TNA)
