ID :
209999
Wed, 09/28/2011 - 13:42
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Shortlink :
http://m.oananews.org//node/209999
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DPM: New momentum of Thailand's economic growth exists
BANGKOK, September 28 (TNA) - Deputy Prime Minister and Commerce Minister Kittirat Na-Ranong said on Wednesday that a new momentum of Thailand's economic growth exists, thanks to rising purchasing power of local consumers.
Kittirat told a public forum on Thailand's economic direction in 2012 that the rising purchasing power of local consumers is cushioned by the government's key economic policies on the rice mortgage and the 300-baht daily minimum wage schemes, set to be kicked off next month and early next year respectively.
Kittirat assessed that the new Pheu Thai Party-led administration's major economic policies should boost the country's gross domestic product (GDP) growth by some 2.5 per cent and export growth to some 15 per cent year-on-year next year, as the local consumers' rising purchasing power should lead to expanding domestic consumption and business transactions with higher tax revenues collected by the government.
The deputy premier and commerce minister cautioned, however, that there will remain some risk factors encountering the Thai economy, namely higher inflation and unemployment among Thai workers and other eco-sociological problems due to an influx of immigrant workers from neighbouring countries following the implementation of the 300-baht daily minimum wage.
Meanwhile, former deputy prime minister Kosit Panpiumrat, who is now Chairman of the Executive Board of Bangkok Bank Public Company Limited, suggested that Thailand turn to become a most self-reliance economy to relieve impacts from world economic woes caused by the ongoing debt crisis in Europe and the United States. (TNA)
Kittirat told a public forum on Thailand's economic direction in 2012 that the rising purchasing power of local consumers is cushioned by the government's key economic policies on the rice mortgage and the 300-baht daily minimum wage schemes, set to be kicked off next month and early next year respectively.
Kittirat assessed that the new Pheu Thai Party-led administration's major economic policies should boost the country's gross domestic product (GDP) growth by some 2.5 per cent and export growth to some 15 per cent year-on-year next year, as the local consumers' rising purchasing power should lead to expanding domestic consumption and business transactions with higher tax revenues collected by the government.
The deputy premier and commerce minister cautioned, however, that there will remain some risk factors encountering the Thai economy, namely higher inflation and unemployment among Thai workers and other eco-sociological problems due to an influx of immigrant workers from neighbouring countries following the implementation of the 300-baht daily minimum wage.
Meanwhile, former deputy prime minister Kosit Panpiumrat, who is now Chairman of the Executive Board of Bangkok Bank Public Company Limited, suggested that Thailand turn to become a most self-reliance economy to relieve impacts from world economic woes caused by the ongoing debt crisis in Europe and the United States. (TNA)
