ID :
150066
Tue, 11/16/2010 - 09:53
Auther :
Shortlink :
http://m.oananews.org//node/150066
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BoT confident of 7.3% GDP growth despite flood impact
BANGKOK, Nov 16 – Bank of Thailand (BoT) Assistant Governor Paiboon Kittisrikangwan on Monday announced that the central bank remains confident that the Thai economy will grow 7.3 per cent as projected earlier for this year despite the impact of severe flooding in many provinces nationwide.
He said the bank is monitoring various factors that it believes might undermine economic growth and stability in the near term.
They will be used to consider the implementation of monetary and interest policies at the Monetary Policy Committee’s meeting to be held Dec 1.
Regarding the impact of major floods in a number of provinces countrywide which the premier and concerned state agencies believe would trim Thailand's gross domestic product (GDP) this year by 0.3 per cent, Mr Paiboon said the bank was not worried about the matter and believed that GDP would grow 7.3 per cent as targeted earlier this year.
“Severe flooding in many provinces nationwide is likely to have a little impact on the GDP. It is not worrying. We believe the GDP will grow in a range of 7.3-8 per cent this year,” he said.
Other factors that need be monitored include the continued foreign capital inflow due to the implantation of the next round of quantity easing (QE2) by the Federal Reserve and Beijing’s plan to ease economic heating.
He conceded it is premature to estimate impacts of the flooding on the country’s economy and export sector. (MCOT online news)
He said the bank is monitoring various factors that it believes might undermine economic growth and stability in the near term.
They will be used to consider the implementation of monetary and interest policies at the Monetary Policy Committee’s meeting to be held Dec 1.
Regarding the impact of major floods in a number of provinces countrywide which the premier and concerned state agencies believe would trim Thailand's gross domestic product (GDP) this year by 0.3 per cent, Mr Paiboon said the bank was not worried about the matter and believed that GDP would grow 7.3 per cent as targeted earlier this year.
“Severe flooding in many provinces nationwide is likely to have a little impact on the GDP. It is not worrying. We believe the GDP will grow in a range of 7.3-8 per cent this year,” he said.
Other factors that need be monitored include the continued foreign capital inflow due to the implantation of the next round of quantity easing (QE2) by the Federal Reserve and Beijing’s plan to ease economic heating.
He conceded it is premature to estimate impacts of the flooding on the country’s economy and export sector. (MCOT online news)
