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151166
Thu, 11/25/2010 - 10:47
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http://m.oananews.org//node/151166
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Thai economy to grow 3.5-4.5% next year: ex-BoT chief Pridiyathorn
BANGKOK, Nov 25 – The Thai economy will be able to grow 3.5-4.5 per cent next year as the government expects, boosted by a substantial increase in agricultural product prices, according to former deputy prime minister and finance minister Pridiyathorn Devakula, who head the Bank of Thailand (BoT) before 2006.
Speaking at a seminar on “Driving the Thai Economy Amid Political Crisis,” he said the government’s projection for an economic growth of 7.9 per cent this year could be met.
The forecast by the National Economic and Social Development Board (NESDB) that the economy would expand 3.5-4.5 per cent next year was not beyond the imagination because the incomes earned by farmers had risen significantly on higher prices of farm products of almost all kinds, he said.
It resulted in the local consumption playing an important role in driving the economy in place of the export sector, said Mr Pridiyathorn.
However, he conceded that private investment next year would not expand as much as that of this year since the increased investment stemmed from the import of machinery for the installation in Mab Ta Phut projects and intended expansion of industrial production capacity.
Should the political rally become violent as happened last year, he said, the tourism sector would be most adversely affected, but the economy would continue expanding because the political disturbances would not dampen farm product prices.
Even if the ruling Democrat Party is dissolved, or if Parliament is dissolved and new elections called, it would not adversely affect Thailand's economic growth, he said. (MCOT online news)
Speaking at a seminar on “Driving the Thai Economy Amid Political Crisis,” he said the government’s projection for an economic growth of 7.9 per cent this year could be met.
The forecast by the National Economic and Social Development Board (NESDB) that the economy would expand 3.5-4.5 per cent next year was not beyond the imagination because the incomes earned by farmers had risen significantly on higher prices of farm products of almost all kinds, he said.
It resulted in the local consumption playing an important role in driving the economy in place of the export sector, said Mr Pridiyathorn.
However, he conceded that private investment next year would not expand as much as that of this year since the increased investment stemmed from the import of machinery for the installation in Mab Ta Phut projects and intended expansion of industrial production capacity.
Should the political rally become violent as happened last year, he said, the tourism sector would be most adversely affected, but the economy would continue expanding because the political disturbances would not dampen farm product prices.
Even if the ruling Democrat Party is dissolved, or if Parliament is dissolved and new elections called, it would not adversely affect Thailand's economic growth, he said. (MCOT online news)
