Connect with us

Economics

Thai economy to grow over 4% in 2013

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said today he believed the Thai economy to grow at more than four per cent this year. Many agencies lowered this years growth forecast thanks to volatile global economy.

Published

on

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said today he believed the Thai economy to grow at more than four per cent this year. Many agencies lowered this years growth forecast thanks to volatile global economy.

The government has to work hard to push the Thai economy to expand over four per cent and he is confident the target can be achieved, Mr Kittiratt said.This year, the government will focus on boosting the private investment to offset the delayed government investment on the water management project after the court ruled that public hearing must be conducted first.

Moreover, the government will promote tourism and service sectors, which are growing well.Meanwhile, Dr Thanawat Polvichai, Director of Center for Economic and Business Forecasting of the University of the Thai Chamber of Commerce said Thai GDP forecast this year is revised down to 4.3 per cent from five per cent due to domestic consumption slowdown, concern over rising debts and political situation as well as volatile global economy.Exports are likely to grow only four per cent lower than the commerce ministry’s target at seven per cent.

Moreover, the multi-billion water management projects have been delayed due to a legal problem, so the sum of the government’s 60-70 billion baht investment expected to stimulate the economy in the third quarter will be also postponed.The Thai economy will however be supported by tourism with about 25 million tourists expected to visit Thailand or about 12 per cent growth.Thanawat said the Thai economy will be bottomed out in the third quarter and the global economy will gradually rebound in the fourth quarter. The Thai economy is likely to grow 4.5 per cent in the fourth quarter and at least five per cent next year.

via Thai economy to grow over 4% this year: Finance Minister | MCOT.net | MCOT.net.

Click to comment

Leave a Reply

Economics

Vaccine shortage could derail Thailand’s economic recovery

As much of the Asia-Pacific region is gearing up for a 2022 reopening and recovery, Thailand is now lagging behind many countries in vaccine procurement and sluggish vaccine campaign threatens the country’s economic recovery.

Published

on

As Thailand enters the second week of its mass rollout of locally produced AstraZeneca vaccines, it appears that supplies are falling short of demand from patients.

(more…)
Continue Reading

Economics

China’s new three-child policy highlights risks of aging across emerging Asia

Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.

Published

on

Street vendor in Bangkok

Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.

(more…)
Continue Reading
Wise

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,099 other subscribers

Recent