Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

NEWS UPDATES 
 4 Apr 2009

Thai economy seen declining 4% in 2009

The Thai economy could shrink as much as 4 percent in 2009, a senior International Monetary Fund official said on Friday at the end of an IMF mission to the country to conduct an annual economic review.

"Assuming that there are no major shortfalls in policy implementation, and that political stability is maintained, the fall in GDP growth could be contained to a range of between minus 2 and minus 4 percent," mission chief Nissanke Weerasinghe was quoted by Reuters as telling a briefing.

He also said there was scope for further monetary easing.

The Bank of Thailand has cut its benchmark rate by 225 basis points to 1.5 percent since December as the economy has slumped, and is expected to cut by another 25 or 50 basis points at its next policy meeting on April 8.

The finance ministry says the economy could shrink as much as 3 percent this year after a plunge in exports. On Tuesday the Asian Development Bank forecast a contraction of 2 percent in 2009, followed by growth of 3 percent in 2010.

Political instability in Thailand compounded the damage from the global slowdown last year, depressing business confidence and frightening away tourists. After a period of calm, there has been a new wave of anti-government protests in the past week.





 

 

 

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

 
or
submit your comment in the box below 

Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com