ID :
81095
Tue, 09/22/2009 - 19:18
Auther :
Shortlink :
http://m.oananews.org//node/81095
The shortlink copeid
ADB: Thai GDP contracts 3.2 per cent this year
BANGKOK, Sept 22 (TNA) -- The Asian Development Bank (ADB) is forecasting that the Thai economy will contract 3.2 per cent, a further cut from the 2 per cent projected in April.
Jean-Pierre Verbiest, ADB country director for Thailand, said the projection of 3.2 per cent contraction was caused by lower exports affected by the world economic downturn and a domestic economic slowdown resulting from Thailand’s political turmoil.
The ADB is forecasting a V-shape recovery for Thai economy with an expansion of 3 per cent next year like other Asian countries but indicated that Thailand will grow at a slow pace.
Next year’s expansion is based on the assumption that the government’s stimulus schemes for 2010-2012, due to start in October, proceeds without disruption.
The projects are expected to generate 1.5 million jobs and stimulate both consumption and investment, contributing to a recovery of the industrial sector.
Thailand’s exports, expected to shrink 18 per cent in 2009, will return to grow by 15 per cent in 2010 and imports are likely to increase by 28 per cent, according to the ADB projection.
The Thai economy in the fourth quarter is expected to turn positive and the inflation rate will contract 0.5 per cent for the whole year and stay around 2 per cent given recovering local demand and higher oil prices. (TNA)
Jean-Pierre Verbiest, ADB country director for Thailand, said the projection of 3.2 per cent contraction was caused by lower exports affected by the world economic downturn and a domestic economic slowdown resulting from Thailand’s political turmoil.
The ADB is forecasting a V-shape recovery for Thai economy with an expansion of 3 per cent next year like other Asian countries but indicated that Thailand will grow at a slow pace.
Next year’s expansion is based on the assumption that the government’s stimulus schemes for 2010-2012, due to start in October, proceeds without disruption.
The projects are expected to generate 1.5 million jobs and stimulate both consumption and investment, contributing to a recovery of the industrial sector.
Thailand’s exports, expected to shrink 18 per cent in 2009, will return to grow by 15 per cent in 2010 and imports are likely to increase by 28 per cent, according to the ADB projection.
The Thai economy in the fourth quarter is expected to turn positive and the inflation rate will contract 0.5 per cent for the whole year and stay around 2 per cent given recovering local demand and higher oil prices. (TNA)
