Sign up | Log in



Home  >>  Daily News  >>  Thailand News  >>  Economy  >>  Thai central bank revises up growth estimate

NEWS UPDATES 30 October 2009

Thai central bank revises up growth estimate

Related Stories

September 29, 2009
S&P economist: Strong recovery for Malaysia, Thailand in 2010

September 26, 2009
Thailand: Interest rates may rise on bond issue

September 22, 2009
Thai PM meets US investors, promises support for private sector

September 16, 2009
Political uncertainties cloud Thailand’s recovery prospects

The Bank of Thailand (BoT) raised its economic growth estimate for this year and next year as it believed the country’s economy had already bottomed out and is likely to turn around to grow on a continuing basis, reported state news agency TNA.

BoT’s Assistant Governor Paiboon Kittisrikangwan on Thursday said the bank projected Thailand’s gross domestic product (GDP) would shrink only 2.5-3.5 percent instead of contracting at the 3-4.5 per cent level forecast earlier.

The Thai economy has been buoyed up by the clear recovery of the global economy, particularly the economy in Asia. The economy had been also driven by increased exports and the injection of money through the government’s Thai Khem Keng (Strong Thailand) Scheme.

However, there remain some risk factors to the economy including global economic volatility, slower-than-targeted budget disbursement, worsening political conflicts, and the court order suspending operations of investment projects in the Mab Ta Put Industrial Estate.

He said the court’s injunction against the Mab Ta Put projects had undermined the investment atmosphere and could affect GDP growth next year.

As economic conditions are showing improvement, the bank revised its GDP growth projection for 2010 upward to 3.3-5.3 percent from the 3-5 percent projected previously.

Should the problem at Mab Ta Put drag on, GDP is likely to grow only 3.3 percent. Nonetheless, he said that exports are expected to contract 12.5-15.5 percent this year, but to grow 9-12 percent next year, while imports are forecast to shrink 23-26 percent this year, but to increase 16.5-19.5 per cent in the year ahead.


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

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand