Sign up | Log in



Home  >>  Daily News  >>   Thailand News  >>  Economy  >>  IMF reports show growth contrasts of Thailand and Indonesia

6 June 2009

IMF reports show growth contrasts of Thailand and Indonesia

Related Stories
June 5, 2009
Thai finance minister upbeat over economy

May 26, 2009
Thailand economy seen hitting bottom

May 25, 2009
Thailand enters recession as GDP slips 7% in Q1

May 7, 2009
Thailand to borrow $22.7bn for stimulus

May 1, 2009
Thai Economy: Central bank sees first signs of recovery

April 30, 2009
Thai ministry sees signs of economy bottoming out

April 22, 2009
Thai export decline seen continuing in Q2

The International Monetary Fund predicted 3 percent decline in growth for Thailand as opposed to 3 to 4 percent increase for Indonesia, according to Reuters which quoted the forecasts released by the global lender Friday.

IMF noted the Thai economy was suffering a sharp fall in exports and continued sluggish domestic demand. But the country's economic fundamentals remained strong, underpinned by prudent economic policies and robust financial institutions, it said in a statement concluding its 2009 consultation with Thailand.

An IMF mission came to Thailand to conduct an annual economic review in April, when it predicted the Thai economy could shrink between 2 and 4 percent this year.

"Bringing the economy back on a sustained high growth path will, however, require decisive implementation of the policy measures to support domestic demand, and a swift restoration of investor and consumer confidence through a normalisation of the political situation," Reuters quoted the IMF report as saying.

On the other hand, the IMF has raised its 2009 economic growth forecast for Indonesia to 3-4 percent, from 2.5 percent previously, in the wake of better-than-expected first-quarter growth.

The IMF also forecast inflation would decline to about 5 percent by the end of the year. Annual inflation in May was 6.04 percent, while the central bank has forecast growth this year of 3-4 percent, slowing from 6.1 percent in 2008.

Indonesia launched a 73.3 trillion rupiah ($7.37 billion) fiscal stimulus package earlier this year, ahead of parliamentary elections in April and presidential elections on July 8, in a bid to counter the impact of a global economic crisis.

The central bank has cut its key interest rates by a total of 2.5 percentage points since December to 7.0 percent, and has said it may cut further in response to easing inflation and a firm rupiah currency.


Comment on this Article. Send them to

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
submit your comment in the box below 





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