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Thai economy likely to grow rather significantly this year: TDRI

BANGKOK: -- The Thai economy is likely to grow rather significantly in a range of 6.4-7.2 per cent this year although the global economy remains

volatile, according to the Thailand Development Research Institute (TDRI).

TDRI research director for macroeconomic development Somchai Jitsuchon said the institute had estimated economic growth for 2010 and 2011 based on

the challenging macroeconomic management.

He said that global economic recovery had been shaken by the debt crisis in Europe. Whether the world economy would continue picking up depends on

the recovery of key economies such as the United States.

The global economic uncertainties could affect Thailand’s economic outlook, he said, however, adding that TDRI remained optimistic the Thai economy

would expand at a rather high rate of 6.4-7.2 per cent this year with the inflation rate staying at 3-3.5 per cent.

The economy could grow less than expected only in case investments decline in the third and fourth quarters due to a renewed political violence.

Next year, he projected, the economy would grow around 3.5-7.1 per cent with an inflation rate staying at 2-3.6 per cent, but the country will continue enjoying a trade surplus. (MCOT online news)

-- TNA 2010-08-19