Thai Central Bank To Revise 2013 G D P In July

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Thai Central Bank to revise 2013 GDP in July
By Digital Media



BANGKOK, June 1 – Thailand saw a slowdown in foreign capital inflows in May but has yet to pinpoint if the baht value is on a declining trend, according to a Bank of Thailand (BoT) executive.

Mathee Supapongse, senior director of the BoT’s Macroeconomic and Monetary Policy Department, said Thailand’s economy was stagnant in April but it should successively expand in Q2 thanks to the cut on policy interest rate by 0.25 per cent, satisfactory consumer confidence index and the government’s economic stimulation.

The BoT will reassess this year’s economic figures in July before deciding if more actions will have to be taken, he said.

He said the central bank predicted gross domestic product (GDP) growth at 5.1 per cent this year and 5 per cent next year.

Foreign capital inflows in April were US$4.166 billion and there were signs of a slowdown in May, he said, adding that the private sector’s investment index shrank by 1.1 per cent in April year-on-year in based on less active investment on machinery and equipment and the slow recovery of global economy.

The private sector’s consumer index expanded by 1.7 per cent while farmers’ income dropped by 7.7 per cent year-on-year.

Mr Mathee said the kingdom’s exports reached US$17.251 billion, an increase of 3.7 per cent while exporters were confident that the situation would improve in Q2.

Tourism has continually grown, by 2.1 million visitors during the first quarter of 2013, or a 21.6 per cent increase, mostly from China and Russia, while the inflation rate was at 2.42 per cent. (MCOT online news)


-- TNA 2013-2013-06-01

[drdoom6996]

The Baht Value. The Political Turmoil. A De facto Leader in Dubai. Tourists not safe from gangs. Tourist Scams. Prime Minister / PTP doing nothing for the Thai People.

ALL OF THE ABOVE!

[bangon04]

When I saw this topic title, i immediately thought: revise the figures for January to June 2013 ? There have been so many arithmetical revisions recently...... Then the second thought was.. does it really matter because surely no one trusts their figures anyway. Does this make me a cynic?

[hansnl]

When I saw this topic title, i immediately thought: revise the figures for January to June 2013 ? There have been so many arithmetical revisions recently...... Then the second thought was.. does it really matter because surely no one trusts their figures anyway. Does this make me a cynic?

Oh yes, definitely.

But doesn't one get cynical because of foregoing experiences?