Thailand's GDP forecast lowered to 3.7% for this year
By English News



BANGKOK, Sept 28 – The Finance Ministry has adjusted Thailand’s gross domestic product (GDP) for this year from 4 per cent to 3.7 per cent and predicted 5.1 per cent growth next year thanks to the Bt2 trillion investment on infrastructure development.

Somchai Sujjapongse, director of the Fiscal Policy Office, said this year’s GDP would not reach 4 per cent unless the government speeds up the 2014 budget spending.

He predicted a delay in investment budget for next year pending a decision by the Constitution Court regarding implementation of the 2014 budget.

A budget of Bt86 billion from the total Bt600 billion must be injected into the system before the end of this year, he said, adding that the government has yet to spend Bt7 billion in financial incentives to state officials for 2011 and 2012; Bt2.5 billion budget for official workshops and seminars to be held in secondary tourist attraction provinces; and spending for road repairs.

He said the targeted 4 per cent GDP was based on an assumption of export growth at 1.8 per cent, or US$20 billion per month.

The GDP of Thailand’s 14 trading partners expanded by 3.3 per cent while the short-term interest rate set by the Monetary Policy Committee would be fixed at 2.5 per cent until next year.

Inflation is at 2.3 per cent and Dubai oil price is at US$109 per barrel.

Mr Somchai said the economic assessment for this year does not include impact from flooding in 25 provinces.

The Finance Ministry predicted next year’s GDP growth at 5.1 per cent, within a possible range of 4.6-5.6 per cent, thanks to strengthening economy among trading partners and an estimated spending of Bt60 billion on infrastructure development. (MCOT online news)


-- TNA 2013-09-28

Again a withe lie ?

Kittiratt sends now his subordinates to the (press) front.

These G.D.P. figures seem to be going up and down quicker than a whores draws when payday comes.

These G.D.P. figures seem to be going up and down quicker than a whores draws when payday comes.

Like most whores draws they are apparently very easily going down. They have missed their targets miles

And just read the caveats. No allowance for flood problems. Govt spending off target and an assumption about exports.

Was this "achievement" on Yingluck's speech the other day?

BANGKOK, Sept 28 – The Finance Ministry has adjusted Thailand’s gross domestic product (GDP) for this year from 4 per cent to 3.7 per cent and predicted 5.1 per cent growth next year thanks to the Bt2 trillion investment on infrastructure development.

I think yer 5.1% for next year is wishful thinking dear chap

BANGKOK, Sept 28 The Finance Ministry has adjusted Thailands gross domestic product (GDP) for this year from 4 per cent to 3.7 per cent and predicted 5.1 per cent growth next year thanks to the Bt2 trillion investment on infrastructure development.

I think yer 5.1% for next year is wishful thinking dear chap

Undoubtedly. They need industry and consumption to move before they rely on massive government projects

Now the debt is more than 70%. Financial crises for Thailand? or as usual don't worry be happy?

Who actually believes anything the finance ministry says these days?

They should let TAT do all the announcements for the government.. much more credible.