ID :
151344
Sat, 11/27/2010 - 10:43
Auther :
Shortlink :
http://m.oananews.org//node/151344
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Economy likely to grow as targeted this year: FPO
BANGKOK, Nov 27 – Thailand’s gross domestic product (GDP) is expected to grow 7.3-7.4 per cent as targeted for this year, despite the impact of major flooding in many provinces nationwide, according to the Fiscal Policy Office.
Pisit Puapan, director of FPO’s Macroeconomic Analysis Division, said the inundation had reduced GDP growth slightly by 0.1-0.3 per cent. Therefore, it is projected that GDP for 2011 would still expand in a targeted range of 7.3-7.4 per cent.
Mr Pisit believed the stronger baht would have little impact on the country’s exports. The currency has already weakened to around 30 to the US dollar since more foreign capital has flowed to invest in assets in the form of the greenback.
FPO Director-General Naris Chaiyasoot said the Thai economy continued to expand in October, albeit at a slower pace than that of the previous month due to the inundation.
So did exports, which had slowed partly due to the stronger baht and lower growth of private consumption.
Private investment remained sound, as witnessed by an increase in the capital goods import by 11.2 per cent per annum.
External demand has also increased at a slower pace as evidenced by export growth of 15.7 per cent per annum, down from 21.2 per cent per annum, due to lower economic expansion of many of Thailand's trading partners, such as the US, Europe and Japan. (MCOT online news)
Pisit Puapan, director of FPO’s Macroeconomic Analysis Division, said the inundation had reduced GDP growth slightly by 0.1-0.3 per cent. Therefore, it is projected that GDP for 2011 would still expand in a targeted range of 7.3-7.4 per cent.
Mr Pisit believed the stronger baht would have little impact on the country’s exports. The currency has already weakened to around 30 to the US dollar since more foreign capital has flowed to invest in assets in the form of the greenback.
FPO Director-General Naris Chaiyasoot said the Thai economy continued to expand in October, albeit at a slower pace than that of the previous month due to the inundation.
So did exports, which had slowed partly due to the stronger baht and lower growth of private consumption.
Private investment remained sound, as witnessed by an increase in the capital goods import by 11.2 per cent per annum.
External demand has also increased at a slower pace as evidenced by export growth of 15.7 per cent per annum, down from 21.2 per cent per annum, due to lower economic expansion of many of Thailand's trading partners, such as the US, Europe and Japan. (MCOT online news)
