Jump to content

World Bank to lower Thai GDP from 5% to 4-4.5%


webfact

Recommended Posts

World Bank to lower Thai GDP from 5% to 4-4.5%

By English News

13772537547500.jpg

BANGKOK, Aug 24 – The World Bank will adjust its forecast of Thailand’s gross domestic product (GDP) for this year from 5 per cent to 4-4.5 per cent due to lower economic and export growth, a bank senior economist said today.

Kirida Bahopichitr said the Thai economy was not in recession but expansion was slight compared to last year when the country enjoyed a high GDP growth thanks to the government’s post-flood revival measures and other economic stimulus.

She predicted a higher economic growth next year when the economic fundamentals would return to normal and the global economy would possibly bounce back – a positive factor for Thailand’s export sector.

The government’s investment on infrastructure development will be clearer next year while the tourism industry will remain sound and the interest rate favourable to investment, she said.

Ms Kirida said overall consumption would be rather stagnant due to high household debt.

She indicated that the weakened baht at Bt32 against the dollar resulted from several factors including capital outflows given investor concerns over the US Federal Reserve’s slowdown on quantitative easing (QE) and the country’s current account deficit.

The senior economist was optimistic that the global economy would improve and the US monetary policy on QE would not be to harsh, contributing to Thailand’s export growth and surging foreign investment in Asia and Thailand.

Asia will become the hub of economic growth in the next decade and Thailand has to be well prepared for the future capital movements, she said.

Ms Kirida ruled out speculations that the baht would be attacked and weakened as with the Indonesian and Indian currencies, explaining that, unlike in the past, the Thai baht’s floating exchange rates were well managed and the Thai economic fundamentals were solid. (MCOT online news)

tnalogo.jpg
-- TNA 2013-08-24

Link to comment
Share on other sites

What is this domestic consumption stagnation due to high household debt?

I thought everyone in Thailand (apart from me) was supposed to be richer than ever. sad.png

Once again the man in Dubai proved he can´t be trusted, he is a smuck.

Edited by Skywalker69
Link to comment
Share on other sites

Good to see someone is dancing to Yingluck fiddling, while the economy burns.

Steady on old chap, think of it from the Ms. Kirida's perspective, if she had told the truth, she would have been sued for defaming Thailands reputation, she might get a visit from Yinglucks stormtroopers riot police at home, and of course our favourite red shirts would be threatening to burn down the World Bank...

We have to trust Dear Yingkuck, she said no recession, so no recession....got it ?....biggrin.png

  • Like 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.








  • Topics

  • Latest posts...

    1. 90

      Game over

    2. 53

      PM Faces Pressure Over Thaksin's Alleged Hospital Fake-Out

    3. 2,205

      Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

    4. 90

      Game over

    5. 35

      Thai Khmer - is it alive anywhere in South Isaan?

    6. 90

      Game over

    7. 2,205

      Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

    8. 90

      Game over

    9. 0

      Does Donald Trump Have Dementia?

    10. 46

      Russian Disinformation Campaign Targets Kamala Harris with False Accusations

    11. 90

      Game over

    12. 90

      Game over

    13. 90

      Game over

    14. 1

      Now I'm getting older: I worry that my aging brain is making me feel crazy. (You too?)

    15. 5

      Trumps Long Island Rally: Supporters sound off on life with Trump vs biden/harris

×
×
  • Create New...
""