An increase in Thailand’s gross domestic product (GDP) in the final quarter of last year has contributed to Thailand’s 5.3 per cent economic growth for the entire year – slightly higher than the predicted 5 per cent expansion, according to Kasikorn Research Centre.
It said the positive momentum will possibly spill over into this year when the GDP could expand by 5.3 per cent in the first quarter thanks to the improving economy abroad. The research centre limits this year’s forecast GDP growth at 4.5-5.5 per cent due to the possible impact from surging production costs and the appreciating Thai baht since earlier this year. The two components might put pressure on the revival of Thailand’s business and exports, the centre forecast. It said the government’s measures to alleviate the impact and accelerated budget spending on water resource management and infrastructure will help move the Thai economy ahead Thailand’s 2012 economic growth 5.3%, higher than predicted | MCOT.net