ID :
148391
Tue, 11/02/2010 - 10:39
Auther :
Shortlink :
http://m.oananews.org//node/148391
The shortlink copeid
Flooding to have little impact on GDP growth: NESDB
BANGKOK, Nov 2 – Severe floods devastating many provincial areas of the country will have only a minimal impact on Thailand's gross domestic product (GDP) growth this year, according to National Economic and Social Development Board (NESDB) Secretary-General Arkhom Termpittayapaisith.
Speaking at a seminar on “Capital Market Academy Class 11 Meets 3 Economic Pillars,” Mr Arkhom said he is confident that Thailand's GDP will grow 7-7.5 per cent as earlier projected and that the ongoing flooding would impact GDP growth only minimally by a 0.3 per cent reduction.
The NESDB official said the key tools for economic supervision are to enhance the country’s competitiveness in the future by investing in the basic infrastructure, develop the logistics system, adopt the sufficiency economy philosophy, and that Thailand adjust itself to environmental changes due to global warming.
Bank of Thailand (BoT) Governor Prasarn Trairatvorakul said a challenge to efforts to oversee the economy next year is to supervise the baht value to ensure its stability and monitor impacts of the political malaise on the economy to make sure it would not shake investor and consumer confidence.
“In the short run, we need to keep watch on any new round of baht surge, boosted by the capital inflow by implementing the US government's quantitative easing (QE) measure. The move may make the US dollar unstable, which can cause chaos in the global financial market,” he said.
Regarding calls to adopt a fixed currency rate, Mr Prasarn said it was very difficult to resume the fixed currency regime under the present circumstances.
He said the interest rate policy adopted in the past had contributed to the economic recovery. It is expected the policy interest rate will gradually rise to contain the inflation rate rise. (MCOT online news)
Speaking at a seminar on “Capital Market Academy Class 11 Meets 3 Economic Pillars,” Mr Arkhom said he is confident that Thailand's GDP will grow 7-7.5 per cent as earlier projected and that the ongoing flooding would impact GDP growth only minimally by a 0.3 per cent reduction.
The NESDB official said the key tools for economic supervision are to enhance the country’s competitiveness in the future by investing in the basic infrastructure, develop the logistics system, adopt the sufficiency economy philosophy, and that Thailand adjust itself to environmental changes due to global warming.
Bank of Thailand (BoT) Governor Prasarn Trairatvorakul said a challenge to efforts to oversee the economy next year is to supervise the baht value to ensure its stability and monitor impacts of the political malaise on the economy to make sure it would not shake investor and consumer confidence.
“In the short run, we need to keep watch on any new round of baht surge, boosted by the capital inflow by implementing the US government's quantitative easing (QE) measure. The move may make the US dollar unstable, which can cause chaos in the global financial market,” he said.
Regarding calls to adopt a fixed currency rate, Mr Prasarn said it was very difficult to resume the fixed currency regime under the present circumstances.
He said the interest rate policy adopted in the past had contributed to the economic recovery. It is expected the policy interest rate will gradually rise to contain the inflation rate rise. (MCOT online news)
