ID :
143349
Thu, 09/23/2010 - 10:06
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http://m.oananews.org//node/143349
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Exports will grow as expected this year, says BoT
BANGKOK, Sept 23 – Thailand’s exports this year will grow 24.5-27.5 per cent, as expected, despite the strengthening baht, according to the Bank of Thailand (BoT).
Mathee Supapongse, director of the BoT’s Domestic Economy Department, said the central bank monitors the impact of the stronger baht on the economy continuously.
The bank found the baht rise has not adversely affected the country’s export sector and economy, although some industries, particularly processed agricultural products and foods had been impacted while the cassava, natural rubber, and labour intensive industries had not.
“Overall, the current baht surge has not yet affected the economy and export adversely. It is believed the gross domestic product (GDP) and exports this year will not miss the target growth of 6.5-7.5% and 24.5-27.5% set by the central bank although the export is forecast to grow at a slower pace in the 2nd half of this year,” he said.
Mr Mathee said the central bank did not think the baht surge had posed a grave threat to the Thai economy. Rather, global economic recovery has put the local economy at risk.
He said the central bank would estimate impacts on the GDP again at the Monetary Policy Committee’s meeting on October 20 and report the inflation trend on October 28.
“To do that, we will take into account the overall picture of the economy, recovery of global economy, and impacts of the stronger baht on the inflation rate,” he said. (MCOT online news)
Mathee Supapongse, director of the BoT’s Domestic Economy Department, said the central bank monitors the impact of the stronger baht on the economy continuously.
The bank found the baht rise has not adversely affected the country’s export sector and economy, although some industries, particularly processed agricultural products and foods had been impacted while the cassava, natural rubber, and labour intensive industries had not.
“Overall, the current baht surge has not yet affected the economy and export adversely. It is believed the gross domestic product (GDP) and exports this year will not miss the target growth of 6.5-7.5% and 24.5-27.5% set by the central bank although the export is forecast to grow at a slower pace in the 2nd half of this year,” he said.
Mr Mathee said the central bank did not think the baht surge had posed a grave threat to the Thai economy. Rather, global economic recovery has put the local economy at risk.
He said the central bank would estimate impacts on the GDP again at the Monetary Policy Committee’s meeting on October 20 and report the inflation trend on October 28.
“To do that, we will take into account the overall picture of the economy, recovery of global economy, and impacts of the stronger baht on the inflation rate,” he said. (MCOT online news)
