ID :
132259
Sat, 07/10/2010 - 11:06
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http://m.oananews.org//node/132259
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Thai economy apt to grow 7% this year, says finance chief
BANGKOK, July 10 – Thailand's economy is likely to grow 7 per cent this year since the gross domestic product (GDP) is forecast to expand satisfactorily, according to Permanent Secretary for Finance Sathit Limpongpan.
Speaking of the upward revision of this year's Thai economic growth estimate by the International Monetary Fund to 7 per cent, he said the projection could not be ruled out given improvements in many categories of the economy.
Mr Sathit said the Finance Ministry forecast the country’s economy will expand more than 6 per cent this year against the 5.5-6 per cent expected earlier, but at present, the economic conditions show a clear sign of recovery.
Thailand's GDP is projected to grow satisfactorily due to significant export growth earlier this year.
Domestic consumption had tapered off, but imports of capital goods and machinery have surged. It reflected the increased production capacity of the industrial sector.
More importantly, the Thai Khem Keng (Strong Thailand) scheme had already enter the procurement process.
Given these positive factors, he expressed confidence that the country’s economy would grow satisfactorily in the second half of this year. (MCOT online news)
Speaking of the upward revision of this year's Thai economic growth estimate by the International Monetary Fund to 7 per cent, he said the projection could not be ruled out given improvements in many categories of the economy.
Mr Sathit said the Finance Ministry forecast the country’s economy will expand more than 6 per cent this year against the 5.5-6 per cent expected earlier, but at present, the economic conditions show a clear sign of recovery.
Thailand's GDP is projected to grow satisfactorily due to significant export growth earlier this year.
Domestic consumption had tapered off, but imports of capital goods and machinery have surged. It reflected the increased production capacity of the industrial sector.
More importantly, the Thai Khem Keng (Strong Thailand) scheme had already enter the procurement process.
Given these positive factors, he expressed confidence that the country’s economy would grow satisfactorily in the second half of this year. (MCOT online news)
