ID :
134101
Thu, 07/22/2010 - 08:42
Auther :
Shortlink :
http://m.oananews.org//node/134101
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Former finance minister warns against relying too much on exports
BANGKOK, July 22 – Thailand should not count on exports as its main income earner since the global economy looks unfavourable, according to former deputy prime minister and finance minister Pridiyathorn Devakula.
Mom Rajawongse Pridiyathorn said the Thai economy had begun reviving continuously since bottoming out in the first quarter of this year.
With the strong economic recovery and the Stock Exchange of Thailand's rally, some investors who earned capital gains from stock trading shifted their investments to the property sector, resulting in gradual growth in the property sector.
Simultaneously, financial institutions continued lending to the property sector rather than the industrial sector.
Interest rates are expected to edge up, but would not undermine the public's purchasing power because rates are lower than the 10 per cent once offered by commercial banks.
Regarding economic risk factors, Pridiyathorn warned that Thailand should not rely too much on exports as its main income earner since the US and European economies had not yet recovered fully and are likely to slow down in the second half of this year. (MCOT online news)
Mom Rajawongse Pridiyathorn said the Thai economy had begun reviving continuously since bottoming out in the first quarter of this year.
With the strong economic recovery and the Stock Exchange of Thailand's rally, some investors who earned capital gains from stock trading shifted their investments to the property sector, resulting in gradual growth in the property sector.
Simultaneously, financial institutions continued lending to the property sector rather than the industrial sector.
Interest rates are expected to edge up, but would not undermine the public's purchasing power because rates are lower than the 10 per cent once offered by commercial banks.
Regarding economic risk factors, Pridiyathorn warned that Thailand should not rely too much on exports as its main income earner since the US and European economies had not yet recovered fully and are likely to slow down in the second half of this year. (MCOT online news)
