ID :
136351
Fri, 08/06/2010 - 08:46
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http://m.oananews.org//node/136351
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BoT chief confident economy will grow 6.5-7.5%
BANGKOK, Aug 6 – Bank of Thailand (BoT) Governor Tarisa Watanagase on Thursday voiced confidence the Thai economy would grow up to 10 per cent
in the first half of this year and expand 6.5-7.5 per cent for the whole year.
She said the overall Thai economy still had momentum for growth, but that there remain risk factors to be closely monitored.
In particular, the central bank was monitoring whether the political situation would escalate and turn violent again following a warning by the Center for Resolution of the Emergency Situation (CRES) that there might be an attempt to carry out more violence in the country.
Mrs Tarisa said external risk factors, especially the debt crisis in Europe, had eased considerably as could be witnessed by the restored confidence in bonds issued for sale by Greece.
“The stress test conducted on European banks shows only seven banks failed to pass the test. It is not worrying because they are small banks. Impacts on market confidence are minimal. Because of this, we believe our exports will not be adversely affected,” she said.
The BoT chief said the central bank had no plan to raise its economic growth projection as it was confident the economy would expand 6.5-7.5 per cent this year.
“It is very likely the Thai economy will grow 10 per cent in the 1st half of this year since the gross domestic product expanded up to 12 per cent in the 1st quarter of the year, but we must monitor economic data from the National Economic and Social Development Board first.”
She said the Thai economy had recovered rather robustly and comprehensively. In particular, private consumption had increased at a higher rate of acceleration than the pre-crisis period in 2008. (MCOT online news)
in the first half of this year and expand 6.5-7.5 per cent for the whole year.
She said the overall Thai economy still had momentum for growth, but that there remain risk factors to be closely monitored.
In particular, the central bank was monitoring whether the political situation would escalate and turn violent again following a warning by the Center for Resolution of the Emergency Situation (CRES) that there might be an attempt to carry out more violence in the country.
Mrs Tarisa said external risk factors, especially the debt crisis in Europe, had eased considerably as could be witnessed by the restored confidence in bonds issued for sale by Greece.
“The stress test conducted on European banks shows only seven banks failed to pass the test. It is not worrying because they are small banks. Impacts on market confidence are minimal. Because of this, we believe our exports will not be adversely affected,” she said.
The BoT chief said the central bank had no plan to raise its economic growth projection as it was confident the economy would expand 6.5-7.5 per cent this year.
“It is very likely the Thai economy will grow 10 per cent in the 1st half of this year since the gross domestic product expanded up to 12 per cent in the 1st quarter of the year, but we must monitor economic data from the National Economic and Social Development Board first.”
She said the Thai economy had recovered rather robustly and comprehensively. In particular, private consumption had increased at a higher rate of acceleration than the pre-crisis period in 2008. (MCOT online news)
