ID :
134326
Fri, 07/23/2010 - 17:48
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http://m.oananews.org//node/134326
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Bank of Thailand adjusts GDP growth projection to 6.5-7.5%
BANGKOK, July 23 – The Bank of Thailand (BoT) its revised Gross Domestic Product (GDP) forecast to 6.5-7.5 per cent in 2010 from the 4.3-5.8 per cent growth it projected earlier, Assistant Governor Paiboon Kittisrikangwan said.
The Thai economy in the first quarter grew by 12 per cent and is expected to grow more than seven per cent in the second quarter.
Economic growth contributed to a ten per cent expansion of GDP in the first quarter.
The recovery of the global economy has resulted in the continuing expansion of Thai exports. Impacts from the domestic political turmoil are limited and tourism shows signs of recovery.
The 2011 GDP forecast is maintained at 3-5 per cent based on steady economic growth.
Mr Paiboon said that the growth of 2010 exports was projected at 24.5-27.5 per cent as the global economic problem and the European debt crisis are not likely to paralyse the global economy.
The economies of Thailand’s trade partner countries, particularly in Asia, have improved.
Thai imports in 2010 are likely to grow significantly but will slow down in 2011 with exports projected at 7-10 per cent and imports at 9.5-12.5 per cent.
Core inflation has dropped thanks to the extension of the government’s measures to help low income earners until the year end and fixing sales prices for entrepreneurs until the third quarter.
Inflation stood at 0.5 to1.3 per cent with core inflation at 2.5-3.8 per cent.
However, there are some risk factors including the recovery of the global economy, the domestic political situation and resolving the environmental and investment crisis due to the suspension of Map Ta Phut industrial projects in the eastern seaboard.
“If the state of emergency is cancelled in all areas, it will benefit tourism and build the confidence of other countries and the public that Thailand’s situation has returned to normal,” he said. (MCOT online news)
The Thai economy in the first quarter grew by 12 per cent and is expected to grow more than seven per cent in the second quarter.
Economic growth contributed to a ten per cent expansion of GDP in the first quarter.
The recovery of the global economy has resulted in the continuing expansion of Thai exports. Impacts from the domestic political turmoil are limited and tourism shows signs of recovery.
The 2011 GDP forecast is maintained at 3-5 per cent based on steady economic growth.
Mr Paiboon said that the growth of 2010 exports was projected at 24.5-27.5 per cent as the global economic problem and the European debt crisis are not likely to paralyse the global economy.
The economies of Thailand’s trade partner countries, particularly in Asia, have improved.
Thai imports in 2010 are likely to grow significantly but will slow down in 2011 with exports projected at 7-10 per cent and imports at 9.5-12.5 per cent.
Core inflation has dropped thanks to the extension of the government’s measures to help low income earners until the year end and fixing sales prices for entrepreneurs until the third quarter.
Inflation stood at 0.5 to1.3 per cent with core inflation at 2.5-3.8 per cent.
However, there are some risk factors including the recovery of the global economy, the domestic political situation and resolving the environmental and investment crisis due to the suspension of Map Ta Phut industrial projects in the eastern seaboard.
“If the state of emergency is cancelled in all areas, it will benefit tourism and build the confidence of other countries and the public that Thailand’s situation has returned to normal,” he said. (MCOT online news)
