ID :
207049
Wed, 09/14/2011 - 11:15
Auther :
Shortlink :
http://m.oananews.org//node/207049
The shortlink copeid
ADB lowers projected Thai GDP growth in 2011 to 4%
BANGKOK, September 14 (TNA) - The Asian Development Bank (ADB) has lowered its projection of Thailand's gross domestic product (GDP) growth this year to 4 per cent, from 4.5 per cent, taking the new Thai government's 300-baht daily minimum wage policy and people's first-cars tax cut into consideration.
ADB's Director for Thailand Craig Steffensen said on Wednesday the downward forecast of the Thai GDP growth in 2011 was based on the fact that the Thai economy grew by only 2.9 per cent during the first half of this year, lower than earlier expected, due to impacts from natural disasters in Japan and economic slowdowns in the United States and Europe.
Steffensen revealed that the ADB had also reduced Thailand's projected economic expansion next year to 4.5 per cent, from 4.8 per cent, noting, however, that the adjusted figure remains satisfactory.
The ADB director acknowledged that his Manila-based bank had also lowered its projections of economic growth of major industrial countries from 2.1 per cent to 1.3 per cent this year and the overall Asian economy from 7.8 per cent to 7.5 per cent.
Meanwhile, Laksamon Athapit, Thailand-based ADB economist, said that the ADB has monitored impacts from the Thai government's fiscal policies to stimulate domestic consumption and to raise people’s income on inflation and has assessed that Thailand's inflation should grow by 3.8 per cent this year, instead of 3.5 per cent earlier projected, and by some 3.2 per cent next year.
Laksamon noted that Thailand's financial status appears to be strong enough for supporting the government policies and Thai exports should grow by as high as 17 per cent this year, as the country maintains its export capability to penetrate emerging markets, although global economic problems remain as risk factors to the Thai economic growth.
The ADB economist said she foresaw that the world economy will, however, not slip into a recession; proposing that the Thai government take good care of senior citizens, as ageing societies are expanding in several Asian countries. (TNA)
ADB's Director for Thailand Craig Steffensen said on Wednesday the downward forecast of the Thai GDP growth in 2011 was based on the fact that the Thai economy grew by only 2.9 per cent during the first half of this year, lower than earlier expected, due to impacts from natural disasters in Japan and economic slowdowns in the United States and Europe.
Steffensen revealed that the ADB had also reduced Thailand's projected economic expansion next year to 4.5 per cent, from 4.8 per cent, noting, however, that the adjusted figure remains satisfactory.
The ADB director acknowledged that his Manila-based bank had also lowered its projections of economic growth of major industrial countries from 2.1 per cent to 1.3 per cent this year and the overall Asian economy from 7.8 per cent to 7.5 per cent.
Meanwhile, Laksamon Athapit, Thailand-based ADB economist, said that the ADB has monitored impacts from the Thai government's fiscal policies to stimulate domestic consumption and to raise people’s income on inflation and has assessed that Thailand's inflation should grow by 3.8 per cent this year, instead of 3.5 per cent earlier projected, and by some 3.2 per cent next year.
Laksamon noted that Thailand's financial status appears to be strong enough for supporting the government policies and Thai exports should grow by as high as 17 per cent this year, as the country maintains its export capability to penetrate emerging markets, although global economic problems remain as risk factors to the Thai economic growth.
The ADB economist said she foresaw that the world economy will, however, not slip into a recession; proposing that the Thai government take good care of senior citizens, as ageing societies are expanding in several Asian countries. (TNA)
