Thailand Raises 2004 Growth Forecast To 7-8%

[george]

Thailand raises 2004 growth forecast to 7-8%

Move comes as Q4 growth hits 2.7%, fastest since Q3 '99

BANGKOK: -- The Thai economy grew a strong seasonally adjusted 2.7 per cent during the fourth quarter from the previous three months and a faster than expected 7.8 per cent fourth quarter growth compared to the previous year, official data showed yesterday.

Express lane: last year's GDP growth of 6.7% was the fastest since 1995 and well above the 6.4% expansion predicted by analysts

The fourth quarter growth, the fastest since the third quarter of 1999, accelerated from third quarter growth of 2.3 per cent and compared with only 0.9 per cent in the second quarter of 2003 when the country was caught up in the global Sars outbreak.

'The strong GDP growth in the fourth quarter was brought on by robust investment and domestic consumption,' National Economic and Social Development Board Secretary-General Chakramon Phasukavanich told a news conference.

The board, a government think tank, said it expected gross domestic product to grow 7.0-8.0 per cent in 2004, up from 6.7 per cent in 2003 and 5.4 per cent growth in 2002.

The 2003 GDP growth, the fastest since 1995, was well above the 6.4 per cent expansion predicted by analysts.

The planning agency's bullish 2004 GDP growth forecast was largely in line with expectations of analysts who expect Thailand to be one of the most dynamic Asian economies again this year along with China and India.

The long-term economic think tank said it was optimistic about 2004 growth prospects despite a bird flu outbreak early this year which has killed at least 22 people and ravaged Thailand's big poultry industry.

The industry earned the country about US$1.4 billion in exports in 2003.

-- Reuters 2004-03-10

[dr_Pat_Pong]

The baht went ass up in early July 1999, and was worth very little by the end of 1999.

[Up2U]

When are the elections ???

[dr_Pat_Pong]

When are the elections ???

National elections around Jan 2005

[sonthaya]

They will have to change their atttitude towards farangs, with the ever increasing restrictions put on farangs who would like to settle in LOS, it's going to difficult.

[dr_Pat_Pong]

They will have to change their atttitude towards farangs, with the ever increasing restrictions put on farangs who would like to settle in LOS, it's going to difficult.

You think a bundle of retirees has a dramatic economic impact on the Thai growth pattern sonthaya ?