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December 25, 2008

Thailand Economy:
Central bank sees return of confidence

The economic sentiment and confidence in Thailand have begun to revive after the new government has been installed and is beginning to take action, state news agency TNA quoted the central bank as saying Wednesday.

Bank of Thailand (BoT) senior director for the domestic economy Amara Sripayak said the central bank continues to gather data on various segments of the economy to assess economic conditions in the fourth quarter of this year again because economic figures are so volatile.

However, many factors had begun to improve as could be witnessed by the lower interest rate, the oil price decline, and accelerated budget disbursements.

Given these factors, she said, domestic local economic performance might turn positive in the following period while the global economy would continue to slow.

Amara viewed the budget disbursement would continue accelerating in a clearer manner.

Regarding export figures, the bank still needs more data from the Ministry of Commerce for consideration in due course.

She said the  Fiscal Policy Office has projected that the economy in fourth quarter of this year would contract in comparison to the same quarter of 2007.

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