ID :
138923
Mon, 08/23/2010 - 19:36
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http://m.oananews.org//node/138923
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Thai economy in Q2 grows 9.1%: NESDB
BANGKOK, Aug 23 – Thai economy in the second quarter of 2010 grew steadily at 9.1 per cent year-on-year, driven by strong export growth, but slower than the first quarter which posted a higher growth of 12 per cent, according to the National Economic and Social Development Board (NESDB).
NESDB secretary-general Ampon Kittiampon said on Monday the economy in the first half of this year expanded 10.6 per cent, which was considered high, compared to the past several quarters as exports in dollar terms grew 41.8 per cent from 32 per cent in the first quarter.
Private investment expanded 18.5 per cent from 15.8 per cent in the first quarter. Growth in consumption accounted for 6.5 per cent. The two factors -- growth in private investment and consumption -- are the key factors supporting steady economic growth, Dr Ampon said.
In the tourism sector, despite the April-May political turmoil, tourist arrivals reached 7.5 million people in the first half of this year and it is expected to reach 15 million for the year overall.
In the second half of this year, economic growth is likely to slow down and the fourth quarter is projected to grow at 1-2 per cent while the Gross Domestic Product (GDP) in the second half of this year is likely to grow at 4-5 per cent.
The NESDB revised GDP projection for the whole year to 7-7.5 per cent from the 3.5-4.5 per cent forecast in May 2010. It viewed that economic growth would grow steadily at 4-5 per cent for several quarters.
In 2010, it forecast 25.7 per cent export expansion and 4.1 per cent private consumption. Headline inflation is likely to hover around 3-3.5 per cent. Risk factors include slowing global economy in the second half of this year, which may affect domestic economy.
Capital movement problems may have an impact on the Thai baht and currency inflow. Other problems are political conflict, which may affect investor confidence, drought and fluctuating oil prices.
The NESDB urged the government to more quickly resolve the problem of the Map Ta Phut project suspensions, to stabilise prices of agricultural produce and the baht as well as to speed up infrastructure development projects to stimulate private investment. (MCOT online news)
NESDB secretary-general Ampon Kittiampon said on Monday the economy in the first half of this year expanded 10.6 per cent, which was considered high, compared to the past several quarters as exports in dollar terms grew 41.8 per cent from 32 per cent in the first quarter.
Private investment expanded 18.5 per cent from 15.8 per cent in the first quarter. Growth in consumption accounted for 6.5 per cent. The two factors -- growth in private investment and consumption -- are the key factors supporting steady economic growth, Dr Ampon said.
In the tourism sector, despite the April-May political turmoil, tourist arrivals reached 7.5 million people in the first half of this year and it is expected to reach 15 million for the year overall.
In the second half of this year, economic growth is likely to slow down and the fourth quarter is projected to grow at 1-2 per cent while the Gross Domestic Product (GDP) in the second half of this year is likely to grow at 4-5 per cent.
The NESDB revised GDP projection for the whole year to 7-7.5 per cent from the 3.5-4.5 per cent forecast in May 2010. It viewed that economic growth would grow steadily at 4-5 per cent for several quarters.
In 2010, it forecast 25.7 per cent export expansion and 4.1 per cent private consumption. Headline inflation is likely to hover around 3-3.5 per cent. Risk factors include slowing global economy in the second half of this year, which may affect domestic economy.
Capital movement problems may have an impact on the Thai baht and currency inflow. Other problems are political conflict, which may affect investor confidence, drought and fluctuating oil prices.
The NESDB urged the government to more quickly resolve the problem of the Map Ta Phut project suspensions, to stabilise prices of agricultural produce and the baht as well as to speed up infrastructure development projects to stimulate private investment. (MCOT online news)
