ID :
137206
Wed, 08/11/2010 - 18:29
Auther :
Shortlink :
http://m.oananews.org//node/137206
The shortlink copeid
Thailand’s 2010 GDP forecast revised upward
BANGKOK, Aug 11 – The Thai economy in 2010 is projected to grow 7-8 per cent, higher than earlier forecast at 5-6 per cent, owing to favourable factors including growing exports, a more stable political situation and the government’s economic stimulus schemes, according to the director of the Economic and Business Forecasting Center of the University of the Thai Chamber of Commerce (UTCC).
The UTCC projection is based on its assumption that the Thai economy in the second half of this year will grow by 4-5 per cent, a slower pace from the first half of this year thanks to the signs of slowing European and US economies, so Thai export growth in the second half of 2010 is likely to drop to 15 per cent, according to Thanawat Polvichai.
However, with more stable domestic politics and oil prices expected to remain around US$85-90 per barrel will bolster local spending to expand 4-5 per cent, a driving force for economy.
Owing to improving tourism and high export in the first half of this year as well as clear signs of economic recovery, GDP in the second quarter may be as high as 8-10 per cent, he said.
“Thai economic growth was driven by external factors in the first three quarters of this year but in the fourth quarter, economic expansion will be supported by internal factors particularly tourism, consumption and recovering investment,” he said.
The government must speed up finding a solution to the problem of the Map Ta Phut industrial project suspensions to regain confidence from investors.
Otherwise, Thai economic expansion in 2011 may not reach four per cent. Mr Thanawat said. (MCOT online news)
The UTCC projection is based on its assumption that the Thai economy in the second half of this year will grow by 4-5 per cent, a slower pace from the first half of this year thanks to the signs of slowing European and US economies, so Thai export growth in the second half of 2010 is likely to drop to 15 per cent, according to Thanawat Polvichai.
However, with more stable domestic politics and oil prices expected to remain around US$85-90 per barrel will bolster local spending to expand 4-5 per cent, a driving force for economy.
Owing to improving tourism and high export in the first half of this year as well as clear signs of economic recovery, GDP in the second quarter may be as high as 8-10 per cent, he said.
“Thai economic growth was driven by external factors in the first three quarters of this year but in the fourth quarter, economic expansion will be supported by internal factors particularly tourism, consumption and recovering investment,” he said.
The government must speed up finding a solution to the problem of the Map Ta Phut industrial project suspensions to regain confidence from investors.
Otherwise, Thai economic expansion in 2011 may not reach four per cent. Mr Thanawat said. (MCOT online news)
