ID :
195769
Tue, 07/19/2011 - 10:24
Auther :
Shortlink :
http://m.oananews.org//node/195769
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BOT chief: Thai economy will likely grow 4.1% in 2011
BANGKOK, July 19 (TNA) - Bank of Thailand (BOT) Governor Prasarn Triratvorakul projected on Tuesday that the Thai economy is likely to grow by 4.1 per cent on average this year, with the national economy expanding comparably in both the first half and the last six months of 2011.
The BOT chief, however, expressed his concerns over rising inflation and impacts of global economic problems on the Thai economy in the second half of this year, particularly those in the United States and Europe, namely the strong Thai baht caused by an influx of foreign capital into Asian economies, saying that the Thai central bank will continue keeping a close watch on the update.
The BOT governor cautioned that populist policies of the incoming Thai administration, led by the Pheu Thai Party, could lead to higher public debt to be shouldered by Thai taxpayers, suggesting the new Thai government to, instead, lessen its fiscal plans to relieve inflationary pressure in the country and to raise minimum wages phase by phase to sustain private businesses.
Meanwhile, the Thai Ministry of Finance's Public Debt Management Office reported that the government’s outstanding public debt had totaled 4.28 trillion baht, or 41.08 per cent of the country's gross domestic product (GDP), as of May 2011, some 3.02 trillion baht of which were loans directly sought by the government and some 1.07 trillion baht were sought through local non-financial- state enterprises. (TNA)
The BOT chief, however, expressed his concerns over rising inflation and impacts of global economic problems on the Thai economy in the second half of this year, particularly those in the United States and Europe, namely the strong Thai baht caused by an influx of foreign capital into Asian economies, saying that the Thai central bank will continue keeping a close watch on the update.
The BOT governor cautioned that populist policies of the incoming Thai administration, led by the Pheu Thai Party, could lead to higher public debt to be shouldered by Thai taxpayers, suggesting the new Thai government to, instead, lessen its fiscal plans to relieve inflationary pressure in the country and to raise minimum wages phase by phase to sustain private businesses.
Meanwhile, the Thai Ministry of Finance's Public Debt Management Office reported that the government’s outstanding public debt had totaled 4.28 trillion baht, or 41.08 per cent of the country's gross domestic product (GDP), as of May 2011, some 3.02 trillion baht of which were loans directly sought by the government and some 1.07 trillion baht were sought through local non-financial- state enterprises. (TNA)
