Thailand's GDP growth this year at 4%

[webfact]

Thailand’s GDP growth this year at 4%

BANGKOK: -- The World Bank has projected Thailand’s gross domestic product growth for 2014 at 4% on the back of export expansion.

A senior economist at World Bank’s Bangkok Office Ms Kirida Phaophichit said exports are forecast to grow by 6% with a total worth of US$238.92 million and imports expected to increase by 5%, worth US $229.99 million, for an expected trade surplus of US$8.93 million.

However, she said Thailand would experience a current account deficit of around US$1.07 million, or about 0.3% of GDP.

Risk factors that could derail economic expansion included the high level of household debt and the investment delay in the government’s infrastructure development projects.

She said political uncertainty is another main negative factor that could hurt the tourism industry, disrupting continuation of policy implementation by the government, which will erode investors’ confidence.

In the long term, the government should give importance to widely distributing spending across the country to minimize the problems of social inequality, she suggested.

The senior economist said this could be done by focusing on spending in regions and reducing controls on income distribution from central agencies, and giving local units more responsibility.

She said last year the country’s GDP grew by only 3% because of a slowdown in exports, household consumption and private investment and delay in government spending. But the tourism sector posted a historic expansion of 20% in 2013 over 2012, and was a major factor in boosting economic growth last year, she added.

Source: http://englishnews.thaipbs.or.th/thailands-gdp-growth-year-4/

-- Thai PBS 2014-02-11

[terryp]

bet it does not even half of that ...there are many problems in the world and exporting Countrys are right in the front line..Thailand is not the centre of the Universe in fact its a pimple on the Worlds buttt

[Thai at Heart]

The dip in the currency should put some push into exports

But it will put a push into inflation also. Not going to be pretty as all those USD flood home.

[rubl]

"However, she said Thailand would experience a current account deficit of around US$1.07 million, or about 0.3% of GDP."

Higher levels of finance being beyond me may I ask if this is the (possible) deficit in the National Budget ?

Edited February 11, 2014 by rubl

[bangkapi]

These numbers are all "fudged" anyway.

[Jonmarleesco]

Well, the Central Bank recently predicted 3%. That's 25% less than the World Bank figure and it will no doubt change again.

[fab4]

bet it does not even half of that ...there are many problems in the world and exporting Countrys are right in the front line..Thailand is not the centre of the Universe in fact its a pimple on the Worlds buttt

So who should we believe, a Senior Economist at the World Bank, or terryp?

[fab4]

Well, the Central Bank recently predicted 3%. That's 25% less than the World Bank figure and it will no doubt change again.

At the risk of sounding whybotherish, if the Central Bank predicted growth figure of 3% was 25% less than the World Bank figure, the World Bank prediction would have been 28% growth, unlikely I feel.

You could have said the Central Bank figure was 1% less than the World Bank figure but it doesn't sound so dramatic and I suppose, in your eagerness to find something wrong with Thailands possible gdp growth rate, you cocked it up.

Edited February 11, 2014 by fab4

[Mosha]

bet it does not even half of that ...there are many problems in the world and exporting Countrys are right in the front line..Thailand is not the centre of the Universe in fact its a pimple on the Worlds buttt

So who should we believe, a Senior Economist at the World Bank, or terryp?

Tough one. Given how the bankers have put the global economy where it is.

[IsaanUSA]

Well, the Central Bank recently predicted 3%. That's 25% less than the World Bank figure and it will no doubt change again.

At the risk of sounding whybotherish, if the Central Bank predicted growth figure of 3% was 25% less than the World Bank figure, the World Bank prediction would have been 28% growth, unlikely I feel.

You could have said the Central Bank figure was 1% less than the World Bank figure but it doesn't sound so dramatic and I suppose, in your eagerness to find something wrong with Thailands possible gdp growth rate, you cocked it up.

lol wut? It's basic math

3% is 25% lower than the 4% prediction.

[bangon04]

bet it does not even half of that ...there are many problems in the world and exporting Countrys are right in the front line..Thailand is not the centre of the Universe in fact its a pimple on the Worlds buttt

So who should we believe, a Senior Economist at the World Bank, or terryp?

Why don't we ask TAT?. Their figures and estimates are far more entertaining relevant and reliable.

[JRSoul]

bet it does not even half of that ...there are many problems in the world and exporting Countrys are right in the front line..Thailand is not the centre of the Universe in fact its a pimple on the Worlds buttt

So who should we believe, a Senior Economist at the World Bank, or terryp?

Tough one. Given how the bankers have put the global economy where it is.

He could have asked something easier, such as "Should we believe fab4?"