ID :
28031
Sun, 11/02/2008 - 20:26
Auther :
Shortlink :
http://m.oananews.org//node/28031
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Thai govt sees stimulus measures lifting GDP by 4% in 2008
BANGKOK, Nov 2 (TNA) - Thailand's Deputy Prime Minister Olarn Chaipravat
expressed confidence that the six economic stimulus measures being planned
by the government will make the Thai economy grow by 4 per cent and
exports
expand by 5 per cent in 2009 amid global economic gloom.
Speaking at a seminar on the outlook for Thai agricultural products during
global recession on Saturday, Dr. Olarn described the government's package
of six economic stimulus measures as a perfect prescription for the Thai
economy to grow at least 4 per cent next year – against a general
prediction of 2-3 per cent which takes into account the impact of the
global recession.
The package of economic stimulus consists of help for the capital market,
credit liquidity injection for state-owned banks; the quick disbursement
of budgeted public expenditures; export and tourism promotion, spending on
mega-projects and formation of an Asia-wide contingency fund.
Application of these measures will also result in 330,000 new jobs. This
came amid predictions by the private sector that the global crisis could
cost Thailand as many as one million jobs to be lost in the manufacturing
sector next year.
Dr. Olarn is upbeat about the prospects of the Thai economy next year. He
said the impact of these measures will help the Thai economy weather the
global financial storms, and he predicts that inflation in 2009 in
Thailand will remain at the low of 1.2 per cent because of steady decline
in global energy prices and that Thai exports will fare well next year.
"Even though markets in the US and Europe will shrink, Thai exports will
benefit from inroads into Asian markets where demands are expected to
enable Thai export to expand by 10 per cent next year," he said.
Speaking at the same forum, Mr. Sanit Worapanya, Chairman of the
Agricultural Futures Market, said several key items of farm produce in
Thailand will suffer consequences of global recession in 2009, chiefly
rubber, tapioca and corn. He said commodity pricing intervention by the
state remain crucial to the survival of the sector in the foreseeable
future. (TNA)
expressed confidence that the six economic stimulus measures being planned
by the government will make the Thai economy grow by 4 per cent and
exports
expand by 5 per cent in 2009 amid global economic gloom.
Speaking at a seminar on the outlook for Thai agricultural products during
global recession on Saturday, Dr. Olarn described the government's package
of six economic stimulus measures as a perfect prescription for the Thai
economy to grow at least 4 per cent next year – against a general
prediction of 2-3 per cent which takes into account the impact of the
global recession.
The package of economic stimulus consists of help for the capital market,
credit liquidity injection for state-owned banks; the quick disbursement
of budgeted public expenditures; export and tourism promotion, spending on
mega-projects and formation of an Asia-wide contingency fund.
Application of these measures will also result in 330,000 new jobs. This
came amid predictions by the private sector that the global crisis could
cost Thailand as many as one million jobs to be lost in the manufacturing
sector next year.
Dr. Olarn is upbeat about the prospects of the Thai economy next year. He
said the impact of these measures will help the Thai economy weather the
global financial storms, and he predicts that inflation in 2009 in
Thailand will remain at the low of 1.2 per cent because of steady decline
in global energy prices and that Thai exports will fare well next year.
"Even though markets in the US and Europe will shrink, Thai exports will
benefit from inroads into Asian markets where demands are expected to
enable Thai export to expand by 10 per cent next year," he said.
Speaking at the same forum, Mr. Sanit Worapanya, Chairman of the
Agricultural Futures Market, said several key items of farm produce in
Thailand will suffer consequences of global recession in 2009, chiefly
rubber, tapioca and corn. He said commodity pricing intervention by the
state remain crucial to the survival of the sector in the foreseeable
future. (TNA)
